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MPS Preview: High for Longer

NCPL’s profitability remains flat in FY19

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October 1, 2019 (MLN): Nishat Chunian Power Limited (NCPL)’s net profits after tax remained flat at Rs 3.4 billion in FY19 with EPS stood at Rs 9.3 per share.

However, during the period furnace oil prices witnessed an uptick, but company’s net sales observed a decline of 9.5%YoY on account of decline in dispatches.

Moreover, gross margins of the company increased by 6 percent points to 34%, mainly oon the back of lower load factor and PKR depreciation during the year.

Due to higher short-term borrowing for working capital requirements along with higher interest rates, company’s finance cost increased by 28% YoY to Rs 1.3 billion against Rs1 billion reported last year.

Furthermore, the board of directors of the company did not announce any dividend with the results.

Profit and Loss Statement for the Year Ended June 30th 2019 ('000 Rupees)

 

Jun-19

Jun-18

% Change

Sales

 15,021,084

 16,594,018

-9.48%

Cost of Sales

 (9,945,451)

 (11,954,459)

-16.81%

Gross Profit

 5,075,633

 4,639,559

9.40%

Administrative expenses

 (201,314)

 (207,083)

-2.79%

Other operating expenses

 (228,258)

 (15,788)

1345.77%

Other income

 112,565

 35,964

212.99%

Finance cost

 (1,342,068)

 (1,046,267)

28.27%

Profit before taxation

 3,416,558

 3,406,385

0.30%

Taxation

 –  

 –  

 

Profit for the year

 3,416,558

 3,406,385

0.30%

Earnings per share – basic and diluted (Rupees)

 9.30

 9.27

0.32%

 

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Posted on: 2019-10-01T11:04:00+05:00

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