August 04, 2022 (MLN): Engro Powergen Qadirpur Limited (EPQL) has registered a net profit worth Rs405.64 million (EPS: Rs1.25) for the half year ended on June 30, 2022, depicting a decline of 55% YoY against the net profit of Rs905mn (EPS: Rs2.79) due to lower gross margins, the company’s financial statement sent to Exchange said.
In conjunction with financial results, the company recommended an interim cash dividend for the half-year ended June 30, 2021, at Rs5 per share i.e. 50%.
During the review period, the top line of the company shrank by 12.31% YoY to stand at Rs4.26bn while the cost of sales stood at Rs3.83bn, down by 6.88% YoY. Consequently, gross profit fell by 42.46% YoY to Rs426mn, squeezing margins by a whopping 524ppt to 10%.
On the expense front, the company’s administrative expenses climbed by 2x YoY to Rs155.15mn during 1HCY22. On the contrary, the other expenses of the company dropped by around 38%.
The company witnessed a considerable increase in its other income by that stood at 13.60mn compared to Rs2.33mn. Meanwhile, the company’s net finance income moved down by 43% YoY to Rs140mn.
In 1HCY22, the company also took a major hit in terms of colossal surge in taxation as it paid Rs4.97mn in the said period compared to Rs0.48mn in 1HCY21.
|
Profit and Loss Account for the half year ended June 30, 2022 (000' Rupees) |
|||
|---|---|---|---|
|
|
Jun-22 |
Jun-21 |
% Change |
|
Sales |
4,260,074 |
4,857,894 |
-12.31% |
|
Cost of Sales |
(3,833,933) |
(4,117,279) |
-6.88% |
|
Gross Profit |
426,141 |
740,615 |
-42.46% |
|
Administrative Expenses |
(155,157) |
(60,940) |
154.61% |
|
Other Expenses |
(14,012) |
(22,511) |
-37.75% |
|
Other Income |
13,595 |
2,330 |
483.48% |
|
Profit from Operations |
270,567 |
659,494 |
-58.97% |
|
Finance Income-net |
140,046 |
246,005 |
-43.07% |
|
Workers' profits participation fund |
– |
– |
|
|
Profit before Taxation |
410,613 |
905,499 |
-54.65% |
|
Taxation |
(4,965) |
(480) |
934.38% |
|
Profit for the Period |
405,648 |
905,019 |
-55.18% |
|
Earnings per share – Basic and Diluted |
1.25 |
2.79 |
-55.20% |
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Posted on:2022-08-04T14:48:45+05:00
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