KAPCO reports Rs1.16bn profit in Q1FY25

MG News | October 23, 2024 at 05:00 PM GMT+05:00

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October 23, 2024 (MLN): Kot Addu Power Company Limited (PSX: KAPCO) unveiled its profit and loss statement for the Q1FY25, wherein the profit after tax clocked in at Rs1.16 billion [EPS: Rs1.32] compared to a profit of Rs1.18bn [EPS: Rs1.34] in the same period last year (SPLY).

To note, no dispatches were made by the company during the period as the Power Purchase Agreement (PPA) expired on October 24, 2023. Since then, the plant has been out of operation.

The profit came on the back of Rs2.62bn in other income in Q1FY25, however, this figure was down 40% YoY as compared to Rs4.37bn in SPLY.

Moreover, the company reduced its expenses, observing a decrease of 23.38% YoY in administrative expenses whereas other expenses surged by 77.6% YoY to clock in at Rs233.12m during the review period.

The company’s finance cost also dipped by 84.42% YoY and stood at Rs205.49m as compared to Rs1.31bn in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep-24	Sep-23	Change%
Revenue from contract with customers	-	-
Cost of sales	-	-
Gross profit	-	-
Plant maintenance and preservation costs	(977,828)	(798,714)	22.42
Administrative expenses	(141,306)	(184,425)	-23.38
Other operating expenses	(233,121)	(136,430)	70.87
Other Income	2621860	4375948	-40.08
Operating profit	1,269,605	3,256,379	-61.01
Finance cost	(205,496)	(1,319,081)	-84.42
Profit before levy and income tax	1,064,109	1,937,298	-45.07
Levy final tax	(4)	-	-
Profit before income tax	1,064,105	1,937,298	-45.07
Income Tax	98,102	(755,614)	-
Profit for the period	1,162,207	1,181,684	-1.64
Earnings per share - basic and diluted Rupees	1.32	1.34

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