KAPCO’s net earnings jump by 84% in 1QFY20

MG News | October 29, 2019 at 10:53 AM GMT+05:00

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October 29, 2019 (MLN): Kot Addu Power Company (KAPCO) has declared earnings of Rs. 5.033 million (EPS: Rs. 5.72) for the quarter ended September 30, 2019, which translates into a growth of 84% over the same period of last year.

According to the explanation provided by various research houses, the massive increase in bottom-line earnings was a result of higher dispatches as well as increase in prices of furnace oil.

Moreover, PKR devaluation and rise in the prices of RLNG also helped in lifting the revenue, and in turn, net earnings of the company.

The other income of the company also surged by a remarkable margin, on account of better returns on short term investments.

Profit and Loss Account for the quarter ended September 30, 2019 ('000 Rupees)
	Sep-19	Sep-18	% Change
Sales	35,365,481	31,595,289	11.93%
Cost of sales	(30,141,137)	(27,978,068)	7.73%
Gross profit	5,224,344	3,617,221	44.43%
Administrative expenses	(206,845)	(176,980)	16.87%
Other income	4,367,353	2,529,228	72.68%
Profit from operations	9,384,852	5,969,469	57.21%
Finance cost	(2,292,069)	(2,098,764)	9.21%
Profit before tax	7,092,783	3,870,705	83.24%
Taxation	(2,059,521)	(1,130,089)	82.24%
Profit for the year	5,033,262	2,740,616	83.65%
Earnings per share - basic and diluted (Rupees)	5.72	3.11	83.92%

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