EPQL enjoys 17% rise in net earnings

By MG News | August 29, 2019 at 03:32 PM GMT+05:00

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August 29, 2019 (MLN): Engro Powergen Qadirpur Limited has reported earnings of Rs.1.8 billion (EPS: Rs.5.77) for the half year ended June 30, 2019, which is 17% higher when compared with the earnings of same period in previous year.

The increase in earnings has come mainly from decline in administrative expenses by 45% and the cut in finance cost by 34%. In addition, higher taxation has affected the earnings during the period.

Besides, the company announced an interim cash dividend for the half year ended June 30, 2019 at Rs.1.5 per share i.e. 15%.

Profit and loss account for the half year ended June 30, 2019 (Rupees'000)
	June, 2019	June, 2018	% Change
Sales	7,233,728	6,032,422	19.91%
Cost of sales	-5,164,271	-4,227,258	22.17%
Gross profit	2,069,457	1,805,164	14.64%
Administrative expenses	-36,219	-66,544	-45.57%
Other expenses	-92,616	-40,516	128.59%
Other income	1,449	1,129	28.34%
Profit from operations	1,942,071	1,699,233	14.29%
Finance cost	-72,022	-109,409	-34.17%
Profit before taxation	1,870,049	1,589,824	17.63%
Taxation	-2,662	-190	1301.05%
Profit for the period	1,867,387	1,589,634	17.47%
Earnings per share - basic and diluted	5.77	4.91	17.52%

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