KAPCO's profits double up after its non-core income exhibits surprising growth

By MG News | February 20, 2019 at 02:39 PM GMT+05:00

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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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