KAPCO performs exceptionally, profits up by 85.5% YoY

February 21, 2020 (MLN): Kot Addu Power Company Limited (KAPCO) has announced its financial results today, as per which company has posted a remarkable increase in its net profits from Rs 6.3 billion to Rs 11.72 billion, showing an increase of 85.5% YoY during six months ended December 31, 2019.

The increase in the company’s profitability was mainly attributable to a significant rise in income that the company earned from other sources from Rs 6.5 billion to Rs 11.3 billion. The second main factor was profits from other operations which rose by 57.2% from Rs 13.3 billion to Rs 20.9 billion.

Moreover, due to the decline in costs of sales by 7.29%, KAPCO’s gross margins surged from 16% to 23% during the period.

On the cost side, the company’s administrative expenses rose by 48.5%, whereas, other expenses dropped by 100% which provided a cushion to the company’s profitability.

 Moreover, the company’s earnings per share (EPS) exhibited a decline of 85.5% from Rs 7.18 per share to Rs 13.32 per share.

Profit and Loss Account for the half-year ended December 31st 2019 ('000 Rupees)

 

Dec-19

Dec-18

% Change

Sales

 44,469,422

 44,220,871

0.56%

Cost of sales

 (34,363,914)

 (37,066,141)

-7.29%

Gross profit

 10,105,508

 7,154,730

41.24%

Administrative expenses

 (472,844)

 (318,222)

48.59%

Other operating expenses

 –  

 (6,311)

-100.00%

Other income

 11,335,967

 6,505,923

74.24%

Profit from operations

 20,968,631

 13,336,120

57.23%

Finance cost

 (4,758,030)

 (4,400,401)

8.13%

Profit before tax

 16,210,601

 8,935,719

81.41%

Taxation

 (4,483,594)

 (2,613,970)

71.52%

Profit for the year

 11,727,007

 6,321,749

85.50%

Earnings per share – basic and diluted (Rupees)

 13.32

 7.18

85.52%

 

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Posted on: 2020-02-21T15:05:00+05:00

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