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
_20260529073616622_a5048c.jpeg?width=280&height=140&format=Webp)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 179,571.27 436.67M | 1.06% 1878.35 |
| ALLSHR | 108,600.94 844.23M | 1.00% 1073.54 |
| KSE30 | 53,548.42 162.02M | 0.99% 525.53 |
| KMI30 | 256,725.70 154.74M | 0.76% 1936.43 |
| KMIALLSHR | 70,620.69 563.61M | 0.98% 683.55 |
| BKTi | 48,625.03 36.31M | 1.37% 658.39 |
| OGTi | 37,179.52 8.29M | 0.94% 345.85 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 60,455.00 | 60,455.00 59,790.00 | 460.00 0.77% |
| BRENT CRUDE | 73.08 | 75.13 71.38 | -2.18 -2.90% |
| RICHARDS BAY COAL MONTHLY | 115.00 | 0.00 0.00 | 1.65 1.46% |
| ROTTERDAM COAL MONTHLY | 126.25 | 0.00 0.00 | 0.15 0.12% |
| USD RBD PALM OLEIN | 1,135.00 | 1,135.00 1,135.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 70.24 | 71.86 68.56 | -1.68 -2.34% |
| SUGAR #11 WORLD | 14.55 | 14.68 14.02 | 0.45 3.19% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Monetary Aggregates (M3) - Monthly Profile
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|