KAPCO’s net earnings jump by 84% in 1QFY20
By MG News | October 29, 2019 at 10:53 AM GMT+05:00
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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