EPQL reports Rs2.14bn profit for 2024, down nearly 15% YoY

February 14, 2025 (MLN): Engro Powergen Qadirpur Limited (PSX: EPQL) has reported a net profit of Rs2.14 billion for the financial year ended December 31, 2024, reflecting a decline of almost 15% compared to Rs2.51bn in 2023.

The company’s earnings per share (EPS) also dropped from Rs7.76 to Rs6.61, signaling a challenging operational year despite a steady revenue stream.

The company’s revenue remained relatively stable at Rs13.2bn in 2024, a minor 0.05% decrease from Rs13.3bn in the previous year.

The cost of revenue saw a slight decline of 1.36%, standing at Rs10.4bn, which resulted in an improved gross profit of Rs2.8bn, marking a 5.2% year-on-year increase.

Administrative expenses edged up by 2% to Rs435.1 million, while other expenses surged significantly to Rs451.4mn from Rs33.2mn in 2023, an increase of 1259.3%.

This sharp rise in other expenses impacted operational profitability, with profit from operations declining by 13.4% to Rs1.9bn.

The company’s finance income also dropped by 25.36% to Rs225.4mn from Rs302mn last year, further affecting overall profitability.

As a result, profit before taxation stood at Rs2.14bn, reflecting a 14.8% decrease.

Despite a 27.4% reduction in taxation expenses to Rs8.15mn, the overall net profit declined.

EPQL’s total comprehensive income for the year was also recorded at Rs2.1bn, in line with the net profit figures.

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