NCPL’s profit rises by 58% to Rs3.96bn in FY23 on account of cost cutting

News Image

By MG News | August 30, 2023 at 01:09 PM GMT+05:00

0:00

August 30, 2023 (MLN): Nishat Chunian Power Limited (PSX: NCPL) posted a remarkable growth of 58.03% YoY in its net profits in FY23, which reached Rs3.96bn [EPS: Rs10.77] compared to a profit of Rs2.5bn [EPS: Rs6.82] in the same period last year (SPLY).

Going by the results, the company's top line dipped by 28.31% YoY to Rs18.22bn as compared to Rs25.42bn in SPLY.

However, the company was able to cut down its cost of sales by a huge 39.78% YoY, improving the gross profit by 42.17% YoY to Rs5.06bn in FY23.

During the period under review, the company earned 29.5% YoY lower other income of Rs113.14m in FY23 as compared to Rs160.49 million in SPLY.

On the expense side, the company observed a fall in administrative expenses by 11.5% YoY while other expenses rose by 23.99% YoY to clock in at Rs156.22m and Rs189.4m respectively during the review period.

The company’s finance costs marked a decline of 1.80% YoY and stood at Rs868.31m as compared to Rs884.21m in FY23, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs0.6m against the Rs0.94m paid in the corresponding period of last year, depicting a fall of 36.37% YoY.

Unconsolidated (un-audited) Financial Results for year ended 30 June, 2023 (Rupees in '000)
  June 23 June 22 % Change
Sales 18,220,811 25,415,977 -28.31%
Cost of sales (13,162,851) (21,858,305) -39.78%
Gross Profit 5,057,960 3,557,672 42.17%
Administrative expenses (156,218) (176,520) -11.50%
Other Income 113,139 160,492 -29.50%
Other expenses (189,404) (152,763) 23.99%
Finance cost (868,314) (884,205) -1.80%
Profit before taxation 3,957,163 2,504,676 57.99%
Taxation (600) (943) -36.37%
Net profit for the period 3,956,563 2,503,733 58.03%
Basic earnings/ (loss) per share 10.77 6.82 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,985.81
48.60M
0.23%
299.15
ALLSHR 81,541.28
258.78M
0.29%
236.03
KSE30 40,048.77
24.71M
0.26%
103.32
KMI30 191,121.85
28.37M
0.22%
423.80
KMIALLSHR 55,122.17
125.73M
0.09%
48.02
BKTi 34,816.72
3.81M
0.72%
248.32
OGTi 28,583.94
2.32M
-0.54%
-155.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,825.00 110,525.00
109,600.00
-590.00
-0.53%
BRENT CRUDE 68.59 68.89
68.42
-0.21
-0.31%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.89 67.18
66.72
-0.11
-0.16%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 04, 2025 at 11:07 AM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market


July 04, 2025 at 10:45 AM GMT+05:00

Pakistan charts AI roadmap for key development sectors


July 04, 2025 at 09:49 AM GMT+05:00

Lucky Cement achieves historic export milestone


July 04, 2025 at 09:40 AM GMT+05:00

NBP issues foreign exchange rates



Top 5 things to watch in this week

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