KAPCO gains 12.4% in bottom-line profits due to substantial increases in non-core income

By MG News | September 05, 2018 at 12:42 PM GMT+05:00

0:00

Kot Addu Power Company Limited reported 12.4% year-on-year gains in bottom-line profits, mainly due to remarkable improvements in non-core income.

The company’s Board of Directors meeting was held on September 5, 2018 in which, financial earnings for the year ended June 30^th 2018 were reviewed and compared to the earnings made during the year ended June 30^th 2017.

According to a report of these earnings issued to PSX, Kot Addu’s Topline earnings went up by 12.3%, but increased cost of sales brought the gross profits down by 5.7%.

However, the company’s non-core income rose substantially from Rs.4.9 billion to Rs.9.5 billion on year-on-year basis, up by 89%. This led to almost 19% increase in profits from operations.

Overall annual profits of the company went up from Rs.9.5 billion to 10.6 billion, as compared to the year ended on June 30^th 2017.

Apart from this, Kot Addu’s basic and diluted earnings per share increased by 12.4% as well, from Rs.10.73 per share to Rs.12.06 per share, YoY.

Profit and Loss Account for the Year Ended June 30th 2018 ('000 Rupees)
	Jun-18	Jun-17	% Change
Sales	91,915,894	81,846,981	12.30%
Cost of sales	(78,536,832)	(67,666,625)	16.06%
Gross profit	13,379,062	14,180,356	-5.65%
Administrative expenses	(465,787)	(451,839)	3.09%
Other operating expenses	(371,085)	(221,708)	67.38%
Other income	9,453,211	4,991,238	89.40%
Profit from operations	21,995,401	18,498,047	18.91%
Finance cost	(6,187,594)	(4,424,942)	39.83%
Profit before tax	15,807,807	14,073,105	12.33%
Taxation	(5,190,722)	(4,626,056)	12.21%
Profit for the year	10,617,085	9,447,049	12.39%
Earnings per share - basic and diluted (Rupees)	12.06	10.73	12.40%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	125,627.31 258.99M	1.00% 1248.25
ALLSHR	78,584.71 1,142.41M	1.16% 904.89
KSE30	38,153.79 69.25M	0.63% 238.06
KMI30	184,886.50 91.38M	0.01% 13.72
KMIALLSHR	53,763.81 554.57M	0.54% 290.61
BKTi	31,921.68 33.15M	1.78% 557.94
OGTi	27,773.98 9.65M	-0.40% -112.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,815.00	108,105.00 107,505.00	-420.00 -0.39%
BRENT CRUDE	66.37	66.63 66.35	-0.37 -0.55%
RICHARDS BAY COAL MONTHLY	97.00	97.00 97.00	1.05 1.09%
ROTTERDAM COAL MONTHLY	107.65	107.65 105.85	1.25 1.17%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.70	65.02 64.68	-0.41 -0.63%
SUGAR #11 WORLD	16.19	16.74 16.14	-0.52 -3.11%