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NCPL: Profit remains flat

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August 15, 2022 (MLN): Nishat Chunian Power Limited (NCPL) has revealed its financial performance today as per which net profits for FY22 remained flat at Rs2.5 billion (EPS: Rs6.8) compared to FY21.

As the company had received its second instalment of Rs8.8bn from GOP in June’22 which provided NCPL room to pay a dividend of Rs10 per share i.e., 100% for the year.

During the year company’s net sales witnessed an increase of 118% YoY to clock in Rs25.4mn, mainly on the back of higher dispatches and Furnace Oil (FO) prices.

Despite higher sales, the gross margins went down to 14% from 32% in FY21. The decline is attributed to a higher load factor.

Among other lined items, the finance cost of the company was reduced by 10% YoY on account of lower short-term borrowings. Meanwhile, the company paid Rs0.94mn in taxes during the period company to zero payments in FY21.

At present, the stock of the company stood at Rs23.58, up by Rs1.64 or 7.48% from yesterday’s price.

Profit and Loss Statement for the Year Ended June 30th 2021 ('000 Rupees)

 

Jun-22

Jun-21

% Change

Revenue from contract with customer

                25,415,977

                11,643,346

118.29%

Cost of Sales

             (21,858,305)

                (7,873,192)

177.63%

Gross Profit

                  3,557,672

                  3,770,154

-5.64%

Administrative expenses

                   (176,520)

                   (140,768)

25.40%

Other expenses

                   (152,763)

                   (174,487)

-12.45%

Other income

                      160,492

                        38,809

313.54%

Finance cost

                   (884,205)

                   (984,418)

-10.18%

Profit before taxation

                  2,504,676

                  2,509,290

-0.18%

Taxation

                            (943)

                                 –  

 

Profit for the year

                  2,503,733

                  2,509,290

-0.22%

Earnings per share – basic and diluted (Rupees)

                             6.82

                             6.83

-0.15%

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Posted on:2022-08-15T19:09:33+05:00

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