KOHP reports sharp 89% profit decline in H1 FY25

February 28, 2025 (MLN): Kohinoor Power Company Limited (PSX: KOHP) has reported an 89.16% decline in net profit for the half-year ended December 31, 2024, with profit after tax falling to Rs269 million, compared to Rs2.48 billion in the same period last year.

Earnings per share (EPS) dropped to Rs0.02 from Rs0.20 in the previous year.

The sharp decline in earnings is primarily attributed to a significant drop in rental income, which fell by 67.86% to Rs2.72bn from Rs8.47bn in the prior year.

The company’s direct costs also decreased by 58.47% to Rs1.98bn, resulting in a gross profit of Rs742m, reflecting a steep 79.96% year-on-year decline.

Administrative and other expenses collectively stood at Rs1.45bn, showing a slight decrease of 7.67% compared to the previous year.

Despite a 24.35% rise in other income to Rs1.01bn, operating profit plunged by 89.77% to Rs300m.

The provision for statutory levies was reduced significantly by 93.09% to Rs31m, bringing the company’s profit before taxation to Rs269m, marking an 89.16% drop from last year.

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