K-Electric posts 18% growth in net earnings during FY18
MG News | September 18, 2019 at 03:29 PM GMT+05:00
September 18, 2019 (MLN): K-Electric Limited has announced the much awaited results for the Financial Year ended on June 30, 2018, according to which it has earned profits of Rs. 311.8 million (EPS: Rs. 0.45), marking a growth of 18% over the prior period.
Pursuant to the details provided by the company, the company observed around 18% growth in revenue, which is mainly attributable to increased tariff adjustments. On the other hand, the cost of sales surged by 19.4% owing to increase in the cost of electricity.
Some of the setbacks that the company endured during the period were absence of tax credit and increase in non-core expenses by 38%. On the contrary, decline in finance cost by 10.3% provided some solace to the financial wellbeing of the company.
| Profit and loss account for the year ended June 30, 2018 (Rupees'000) | |||
|---|---|---|---|
| June, 2018 | June, 2017 | % Change | |
| REVENUE | |||
| Sale of energy - net | 184,155,557 | 168,569,213 | 9.25% |
| Tariff adjustment | 32,970,950 | 15,285,893 | 115.70% |
| 217,126,507 | 183,855,106 | 18.10% | |
| COST OF SALES | |||
| Purchase of electricity | (77,454,783) | (61,565,237) | 25.81% |
| Consumption of fuel and oil | (71,870,026) | (61,466,583) | 16.93% |
| Expenses incurred in generation, transmission and distribution | (22,885,835) | (21,201,913) | 7.94% |
| (172,210,644) | (144,233,733) | 19.4% | |
| GROSS PROFIT | 44,915,863 | 39,521,373 | 13.65% |
| Consumers services and administrative expenses | (34,308,115) | (35,062,397) | -2.15% |
| Other operating expenses | (2,122,422) | (1,537,050) | 38.08% |
| Other income | 8,470,214 | 9,398,778 | -9.88% |
| PROFIT BEFORE FINANCE COST | 16,955,540 | 12,320,704 | 37.62% |
| Finance cost | (3,236,292) | (3,608,978) | -10.33% |
| PROFIT BEFORE TAXATION | 13,719,248 | 8,711,726 | 57.48% |
| Taxation | (1,407,418) | 1,707,557 | |
| NET PROFIT FOR THE YEAR | 12,311,830 | 10,419,283 | 18.16% |
| EARNINGS PER SHARE - BASIC AND DILUTED | 0.45 | 0.38 | 18.42% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
| ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
| KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
| KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
| KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
| BKTi | 37,831.34 13.04M | 1.62% 603.62 |
| OGTi | 27,440.63 3.93M | -0.09% -23.70 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 118,670.00 | 119,440.00 118,260.00 | 375.00 0.32% |
| BRENT CRUDE | 71.98 | 73.17 71.75 | -0.53 -0.73% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 68.69 | 69.79 68.45 | -0.52 -0.75% |
| SUGAR #11 WORLD | 16.40 | 16.58 16.40 | -0.19 -1.15% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|