KAPCO’s annual profits rise by 23.5% owing to higher other income

September 17, 2019 (MLN): Kot Addu Power Company Limited (KAPCO) has announced its financial results today for the year ended June 30th 2019, as per which the company’s annual profits increased by 23.5% to Rs 13 billion from Rs 10.6 billion last year.

The rise in earnings is primarily driven by PKR depreciation and higher other income which increased by 45.8% to Rs 13.7 billion against 9.4 billion in June 2018.

On the revenue front, company’s topline dropped by 7.7% YOY due to fall in power generation.

While major expense heads such as administrative expenses and financial costs as a result of higher short-term borrowing and rise in interest rates, increased by a fair margin, the overall impact on the company’s ultimate earnings was still impressive.

Moreover, the company’s Earnings per share stood at Rs. 14.9, as compared to Rs. 12.06 in last year.

Profit and Loss Account for the Year Ended June 30th 2019 ('000 Rupees)

 

Jun-19

Jun-18

% Change

Sales

 84,830,617

 91,915,894

-7.71%

Cost of sales

 (70,625,377)

 (78,536,832)

-10.07%

Gross profit

 14,205,240

 13,379,062

6.18%

Administrative expenses

 (708,740)

 (465,787)

52.16%

Other operating expenses

 (8,922)

 (371,085)

-97.60%

Other income

 13,781,099

 9,453,211

45.78%

Profit from operations

 27,268,677

 21,995,401

23.97%

Finance cost

 (8,306,164)

 (6,187,594)

34.24%

Profit before tax

 18,962,513

 15,807,807

19.96%

Taxation

 (5,850,973)

 (5,190,722)

12.72%

Profit for the year

 13,111,540

 10,617,085

23.49%

Earnings per share – basic and diluted (Rupees)

 14.90

 12.06

23.55%

 

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Posted on: 2019-09-17T10:43:00+05:00

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