KAPCO's profits double up after its non-core income exhibits surprising growth
MG News | February 20, 2019 at 02:39 PM GMT+05:00
February 20, 2019 (MLN): Kot Addu Power Company Limited (KAPCO) has declared profits of Rs. 8.9 billion for the half year ended December 31, 2018, and an EPS of Rs. 10.22. The profits surged by 104% primarily by virtue of a major increase in the company’s non-core income, which improved by Rs. 7.4 billion i.e. 248%.
Moreover, most of the negative impact resulting from an increase in administrative expenses (+39%), finance cost (42%), and taxation (105%) was eroded by growth in non-core income.
| Profit and loss account for the six months ended December 31 2018 (Rupees'000) | |||
|---|---|---|---|
|
| Dec-18 | Dec-17 | % Change |
| Sales | 44,220,871 | 40,015,623 | 10.51% |
| Cost of sales | -37,066,141 | -33,365,100 | 11.09% |
| Gross profit | 7,154,730 | 6,650,523 | 7.58% |
| Administrative expenses | -318,222 | -228,591 | 39.21% |
| Other operating expenses | -6,311 | -63,631 | -90.08% |
| Other income | 10,383,187 | 2,982,867 | 248.09% |
| Profit from operations | 17,213,384 | 9,341,168 | 84.27% |
| Finance cost | -4,400,401 | -3,084,556 | 42.66% |
| Profit before tax | 12,812,983 | 6,256,612 | 104.79% |
| Taxation | -3,815,922 | -1,861,281 | 105.02% |
| Profit for the period | 8,997,061 | 4,395,331 | 104.70% |
| Earnings per share- basic and diluted | 10.22 | 4.99 | 104.81% |
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