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EPQL: Bottom line shrinks on lower gross margins

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April 18, 2022 (MLN): The net profit of Engro Powergen Qadirpur Limited (PSX: EPQL) for the quarter ended on March 31, 2022, has declined by 62% YoY to stand worth R151 million (EPS: Rs0.47) against the net profit of Rs399.27mn due to lower gross margins, the company’s financial statement sent to Exchange said on Monday.  

During 1QCY22, the top line of the company plunged by 40.52% YoY to clock in at Rs1.39bn due to lower demand for power generation in 1QCY22. Consequently, gross profit fell by 64.80% YoY to Rs109.4mn, squeezing margins to 7.89% from 13.33% during the said period.

On the expense front, the company’s administrative expenses climbed up by 2.8x YoY to Rs80.39mn during 1QCY22. On the contrary, the other expenses of the company dropped by around 13% YoY.

Meanwhile, the company witnessed a 75% YoY increase in its other income to Rs1.54mn in the review period. The company’s net finance income also inched up by 3% YoY to Rs127.62mn.

The whopping increase of 3.6x YoY in tax expenses has also dented the company’s bottom line in 1QCY22.

 

Profit and Loss Account for the quarter ended March 31, 2022 (000' Rupees)

 

Mar-22

Mar-21

% Change

Sales

1,386,763

2,331,574

-40.52%

Cost of Sales

(1,277,332)

(2,020,695)

-36.79%

Gross Profit

109,431

310,879

-64.80%

Administrative Expenses

(80,388)

(28,578)

181.29%

Other Expenses

 (6,623)

 (7,611)

-12.98%

Other Income

1,544

 875

76.46%

Profit from Operations

23,964

275,565

-91.30%

Finance Income-net

127,615

123,852

3.04%

Workers' profits participation fund

  –  

  –  

 

Profit before Taxation

 151,579

399,417

-62.05%

Taxation

(548)

(151)

262.91%

Profit for the Period

151,031

399,266

-62.17%

Earnings per share – Basic and Diluted

0.47

1.23

-61.79%

 

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Posted on: 2022-04-18T14:47:01+05:00

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