NCPL’s net profits up by 19% on the back of improved topline earnings

October 29, 2019 (MLN): Nishat Chunian Power Limited (NCPL) has declared its financial results today for the quarter ended September 30th 2019, according to which it has posted its net profits of Rs 1 billion (EPS: Rs2.91), up by 19% YoY compared to last year net profit of Rs 897 million (EPS: Rs 2.44).

During the period, top-line earnings of the company surged to 5.13% YoY owing to higher PKR/USD indexation which was partly offset by the lower load factor.

More notably, the colossal increase in finance cost by 91% as a result of short term borrowings along with higher interest rates, offset the profitability of the company.

The profitability of the company rose due to top-line earnings on the back of greater load factor in 1QFY20 when compared to 4QFY19.

 

Profit and Loss Statement for the Quarter Ended September 30th 2019 ('000 Rupees)

 

 

Sep-19

Sep-18

% Change

Sales

 5,426,037

 5,161,137

5.13%

Cost of Sales

 (3,784,187)

 (3,944,814)

-4.07%

Gross Profit

 1,641,850

 1,216,323

34.98%

Administrative expenses

 (38,780)

 (37,693)

2.88%

Other expenses

 (408)

 (1,907)

-78.61%

Other income

 12,639

 7,538

67.67%

Finance cost

 (547,395)

 (286,852)

90.83%

Profit before taxation

 1,067,906

 897,409

19.00%

Taxation

 –  

 –  

 

Profit for the year

 1,067,906

 897,409

19.00%

Earnings per share – basic and diluted (Rupees)

 2.91

 2.44

19.26%

 

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Posted on: 2019-10-29T13:27:00+05:00

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