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

By MG News | October 29, 2019 at 01:27 PM GMT+05:00

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October 29, 2019 (MLN): Nishat Chunian Power Limited (NCPL) has declared its financial results today for the quarter ended September 30^th 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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