KAPCO’s profit plummets by 60% in FY23, pays Rs5 DPS

News Image

By MG News | September 06, 2023 at 01:53 PM GMT+05:00

0:00

September 06, 2023 (MLN): The profitability of Kot Addu Power Company Limited (PSX: KAPCO) plummeted by almost 60% YoY, as it reported a net profit of Rs3.96bn [EPS: Rs4.5] for the year ended June 30, 2023, down from Rs9.89bn [EPS: Rs11.24] in the previous year.

Along with the results, the company also announced a final cash dividend of Rs5 per share i.e. 50%.

This is in addition to the interim dividend already paid at Rs3.5 per share i.e. 35%.

Going by the results, the company's top line fell by 81.38% YoY to Rs25.44bn as compared to Rs136.6bn in FY22.

The cost of sales also fell to Rs26bn in FY23 as compared to Rs128.07bn in SPLY, but was not enough to offset the substantial sales decline, due to which the company incurred a gross loss of Rs568.85 million as compared to a gross profit of Rs8.53bn in FY22.

During the review period, other income expanded by 25.56% YoY to stand at Rs15.84bn in FY23 as compared to Rs12.62bn in SPLY.

On the expense side, the company observed a decrease in Administrative expenses by 13.73% YoY while the other expenses surged by 4.9x YoY to clock in at Rs842.58m and Rs1.36bn respectively during the review period.

The company’s finance costs expanded by 42.99% YoY and stood at Rs6.25bn as compared to Rs4.37bn in FY23, mainly due to higher interest rates.

On the tax front, the company paid a lower tax worth Rs2.86bn against the Rs5.63bn paid in the corresponding period of last year, depicting a fall of 49.19% YoY.

Unconsolidated (un-audited) Financial Results for the year ended 30 June, 2023 (Rupees in '000)
  June 23 June 22 % Change
Sales 25,435,312 136,599,624 -81.38%
Cost of sales (26,004,159) (128,067,519) -79.69%
Gross Profit (568,847) 8,532,105 -
Administrative expenses (842,579) (976,701) -13.73%
Other Income 15,843,925 12,618,768 25.56%
Other expenses (1,360,293) (277,451) 390.28%
Finance cost (6,252,898) (4,373,107) 42.99%
Profit before taxation 6,819,308 15,523,614 -56.07%
Taxation (2,860,551) (5,629,994) -49.19%
Net profit for the period 3,958,757 9,893,620 -59.99%
Basic earnings/ (loss) per share 4.5 11.24 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,455.00 110,525.00
109,125.00
-960.00
-0.87%
BRENT CRUDE 68.26 68.89
67.75
-0.54
-0.78%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 108.45 0.00
0.00
0.25
0.23%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.48 67.18
66.04
-0.52
-0.78%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 04, 2025 at 05:21 PM GMT+05:00

PSX Closing Bell: Singin’ in the Rain


July 04, 2025 at 04:58 PM GMT+05:00

Pakistan, Azerbaijan vow to deepen economic ties


July 04, 2025 at 04:40 PM GMT+05:00

PKR falls 10 paisa against USD


July 04, 2025 at 04:27 PM GMT+05:00

UDPL attributes filing delay to internal issues



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg