Kot Addu Power earns Rs732m in three months

MG News | September 03, 2024 at 02:52 PM GMT+05:00

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September 03, 2024 (MLN): Kot Addu Power Company Limited (PSX: KAPCO) earned a profit after tax of Rs731.92 million [EPS: Rs0.83] during the fourth quarter of its fiscal year that ended June 2024.

That compares with a profit of Rs83.81m [EPS: Rs0.1] in the same period last year (SPLY).

To note, no dispatches were made by the company during the whole year as the Power Purchase Agreement (PPA) expired on October 24, 2023.

Since then, the plant has been out of operation.

For the full year FY24, the company earned a profit of Rs4.31 billion, an increase of 9.0% from last year. Its earnings per share rose to Rs4.9.

During the latest quarter, the company's other income went down by 33.0% to Rs2.85bn as compared to Rs4.26bn in SPLY.

The company’s finance cost decreased by 56.5% and stood at Rs718.94m as compared to Rs1.65bn in SPLY.

On the tax front, the company received a tax credit worth Rs265.91m against the Rs808.58m tax paid in the corresponding period of last year.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
	Jun 24	Jun 23	% Change
Sales	-	137,373	-
Cost of sales	-	(1,075,351)	-
Gross Profit/ (loss)	-	(937,978)	-
Administrative Expenses	(263,590)	(158,657)	66.14%
Plan Maintenance and Preservation Costs	(4,161,679)	-	-
Other Income	2,851,767	4,255,414	-32.98%
Other Operating Expenses	(46,592)	(613,625)	-92.41%
Finance Cost	(718,944)	(1,652,765)	-56.50%
Profit/ (loss) before taxation	466,011	892,389	-47.78%
Taxation	265,910	(808,580)	-
Net profit/ (loss) for the period	731,921	83,809	773.32%
Basic earnings/ (loss) per share	0.83	0.10	-

Amount in thousand except for EPS

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