KOHP’s gross margins soar in 1HFY24

MG News | February 28, 2024 at 01:35 PM GMT+05:00

0:00

February 28, 2024 (MLN): Kohinoor Power Company Limited (PSX: KOHP) turned profitable in the first half of FY24 amid notable improvement in gross margins, earning a profit after tax of Rs2.49 million [EPS: Rs0.2], compared to a loss of Rs6,348 in the same period last year (SPLY).

Going by the results, the company's top line shrank by 5.03% YoY to Rs8.48m as compared to Rs8.93m in SPLY.

However, the cost of sales fell significantly by 37.95% YoY, which improved the gross profit by 3x YoY to Rs3.7m in 1HFY24.

The gross margins surged to 43.70% as compared to 13.83% in SPLY.

Dring the review period, the company earned other income of Rs0.81m in 1HFY24 as compared to Rs0.38m in SPLY, a rise of 2.17x YoY.

On the expense side, the company observed an increase in administrative expenses by 34.57% YoY to clock in at Rs1.58m.

Unconsolidated (un-audited) Financial Results for half year ended December 31, 2023 (Rupees in '000)
	Dec 23	Dec 22	% Change
Sales	8,477	8,926	-5.03%
Cost of sales	(4,773)	(7,692)	-37.95%
Gross Profit	3,704	1,234	200.12%
Administrative Expenses	(1,576)	(1,171)	34.57%
Other Income	815	376	116.98%
Profit before taxation	2,943	(111)	-
Taxation	(458)	105	-
Net profit for the period	2,486	(6)	-
Basic earnings/ (loss) per share	0.20	(0.00)	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	157,953.47 555.47M	1.14% 1775.65
ALLSHR	96,741.22 1,957.60M	1.16% 1110.83
KSE30	48,198.94 249.79M	1.09% 520.47
KMI30	232,694.17 290.89M	1.31% 3011.94
KMIALLSHR	65,027.13 1,019.78M	1.03% 660.37
BKTi	42,489.56 84.10M	1.35% 566.75
OGTi	31,779.36 15.21M	0.14% 43.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,860.00	118,295.00 116,115.00	2035.00 1.76%
BRENT CRUDE	67.52	68.42 67.19	-0.43 -0.63%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	94.00	94.50 94.00	0.45 0.48%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.31	64.20 63.03	-0.39 -0.61%
SUGAR #11 WORLD	16.13	16.27 15.89	-0.14 -0.86%