KAPCO's net profit takes a power hit on sinking sales in 1HFY23

MG News | February 23, 2023 at 10:07 AM GMT+05:00
February 23, 2023 (MLN): The net profit of Kot Addu Power Company Limited (KAPCO) has slumped by 43.19% YoY to clock in at Rs3.19 billion [EPS: Rs3.62] in 1HFY23 compared to Rs5.6bn [EPS: RS6.37] in the same period last year.
Going by the financial statement sent to PSX, the net sales of the company dropped by 53.16% YoY to stand at Rs25.17bn in the review period. At the same time, the cost of sales has also plunged by 52.53% YoY to Rs24bn in 1HFY23.
Accordingly, the gross margin of the company squeezed to 4.57% in 1HFY23 compared to 5.83% in 1HFY22.
On the cost front, the other expenses and administrative expenses saw a notable jump of 94.48% YoY and 99% YoY to Rs269mn and Rs561mn respectively, during the said period.
Similarly, the company reported a significant upsurge in finance cost of 99% YoY to Rs3.14bn in 1HFY23 on the back of a hike in policy rate amid growing inflation.
However, the tax expenses fell by 18.56% YoY to Rs1.69bn in 1HFY23, which provided some solace to the financial well-being of the company.
Profit and Loss Account for the half year ended December 31 2022 ('000 Rupees) |
|||
---|---|---|---|
Dec-22 |
Dec-21 |
% Change |
|
Sales |
25,169,489 |
53,731,431 |
-53.16% |
Cost of sales |
(24,019,617) |
(50,601,160) |
-52.53% |
Gross profit |
1,149,872 |
3,130,271 |
-63.27% |
Administrative expenses |
(561,192) |
(281,940) |
99.05% |
Other expenses |
(269,300) |
(138,473) |
94.48% |
Other income |
7,702,240 |
6,555,859 |
17.49% |
Operating profit |
8,021,620 |
9,265,717 |
-13.43% |
Finance cost |
(3,144,411) |
(1,581,478) |
98.83% |
Profit before tax |
4,877,209 |
7,684,239 |
-36.53% |
Taxation |
(1,691,265) |
(2,076,577) |
-18.56% |
Profit for the period |
3,185,944 |
5,607,662 |
-43.19% |
Earnings per share - basic and diluted (Rupees) |
3.62 |
6.37 |
-43.17% |
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
BKTi | 37,831.34 13.04M | 1.62% 603.62 |
OGTi | 27,440.63 3.93M | -0.09% -23.70 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 118,535.00 | 119,440.00 118,225.00 | 240.00 0.20% |
BRENT CRUDE | 72.69 | 73.17 71.75 | 0.18 0.25% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 69.36 | 69.79 68.45 | 0.15 0.22% |
SUGAR #11 WORLD | 16.42 | 16.58 16.40 | -0.17 -1.02% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|