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

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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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