NCL’s losses down to Rs385m in 1HFY24

News Image

MG News | February 28, 2024 at 03:17 PM GMT+05:00

0:00

February 28, 2024 (MLN): Nishat Chunian Limited (PSX: NCL) incurred a loss after tax of Rs385.11 million [LPS: Rs1.6] compared to a loss of Rs1.59 billion [LPS: Rs7.12] in the same period last year (SPLY), depicting an improvement of 75.8% YoY.

Going by the results, the company's top line rose by 35.02% YoY to Rs44.45bn as compared to Rs32.92bn in SPLY.

The cost of sales also rose 27.74% YoY but was lesser than proportionate to sales increase, which improved the gross profit by 124.51% YoY to Rs5.56bn in 1HFY24.

The gross margins improved significantly to 12.51% as compared to 7.52% in SPLY.

During the period under review, other income shrank by 41.24% YoY to stand at Rs158.09m in 1HFY24 as compared to Rs269.06m in SPLY.

On the expense side, the company observed an increase in distribution cost by 29.33% YoY while reducing its other expenses by 86.89% YoY to clock in at Rs1.09bn and Rs62.44m respectively during the review period.

The company’s finance cost inflated by 71.44% YoY and stood at Rs4.13bn as compared to Rs2.41bn in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs585.94m against the Rs368.11m paid in the corresponding period of last year, depicting a rise of 59.17% YoY.

Consolidated (un-audited) Financial Results for half year ended December 31, 2023 (Rupees in '000)
  Dec 23 Dec 22 % Change
Sales - Net 44,453,556 32,924,281 35.02%
Cost of sales (38,892,814) (30,447,399) 27.74%
Gross Profit / (Loss) 5,560,742 2,476,883 124.51%
Distribution cost (1,090,223) (842,951) 29.33%
Administrative and general expenses (238,738) (241,982) -1.34%
Other Income 158,089 269,062 -41.24%
Other Expenses (62,442) (476,436) -86.89%
Finance Cost (4,126,602) (2,407,069) 71.44%
Profit before taxation 200,826 (1,222,494) -%
Taxation (585,938) (368,113) 59.17%
Net profit / (loss) for the period (385,113) (1,590,607) -75.79%
Basic earnings/ (loss) per share (1.60) (7.12) -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 171,115.82
431.76M
-1.03%
-1778.46
ALLSHR 102,630.82
1,022.40M
-0.72%
-743.98
KSE30 51,478.54
123.81M
-1.23%
-641.56
KMI30 245,731.79
184.52M
-1.22%
-3035.83
KMIALLSHR 66,650.32
595.11M
-0.81%
-541.20
BKTi 47,279.59
41.00M
-1.38%
-660.98
OGTi 35,704.94
10.73M
-1.65%
-598.06
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 80,390.00 0.00
0.00
5.00
0.01%
BRENT CRUDE 100.25 102.92
99.55
0.19
0.19%
RICHARDS BAY COAL MONTHLY 110.00 0.00
0.00
-3.30
-2.91%
ROTTERDAM COAL MONTHLY 107.10 107.75
106.20
2.10
2.00%
USD RBD PALM OLEIN 1,191.50 1,191.50
1,191.50
0.00
0.00%
CRUDE OIL - WTI 94.68 0.00
0.00
-0.74
-0.78%
SUGAR #11 WORLD 14.69 14.75
14.46
0.15
1.03%

Chart of the Day


Latest News
May 10, 2026 at 05:50 PM GMT+05:00

RDA hits record $321m in April


May 10, 2026 at 04:27 PM GMT+05:00

New airline South Air brings first aircraft to Pakistan


May 10, 2026 at 09:53 AM GMT+05:00

RDA inlows stay strong amid higher oil bill


May 10, 2026 at 09:33 AM GMT+05:00

Pakistan rushes for spot LNG amid Hormuz disruption



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg