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HomeEquityNCPL’s profits shrink by 18.42% YoY in 1HFY22

NCPL’s profits shrink by 18.42% YoY in 1HFY22

February 21, 2022 (MLN): Nishat Power Limited (NCPL) has witnessed a decline in its profitability by 18.42% YoY for the half-year ended December 31, 2020, to clock in at Rs1.163 billion (EPS: Rs3.17) compared to a profit of Rs1.42bn (EPS: Rs3.88) in the same period last year (SPLY), the company filing on PSX showed on Monday. 

On the revenue front, the sales of the company saw a surge of 68.41% YoY to stand at Rs9.77bn in 1HFY22 on the back of an increase in dispatches to 150 GWh and higher FO prices, up by 68% YoY.

Owing to the notable jump in the cost of sales, the gross margins of the company has shrunk to 17% from 34% in the same period last year.

The decline in margin is attributable to a higher load factor, however, PKR depreciation of 3% has been witnessed during 2QFY22, a report by Arif Habib Limited noted.

However, the company drew some relief from a decline in finance cost by 5.44% due to lower short-term borrowings.

Profit and Loss Statement for the half-year ended December 31, 2021 ('000 Rupees)

 

Dec-21

Dec-20

% Change

Sales

9,773,722

5,803,591

68.41%

Cost of Sales

(8,073,969)

(3,843,907)

110.05%

Gross Profit

1,699,753

1,959,684

-13.26%

Administrative expenses

(77,466)

(63,901)

21.23%

Other operating expenses

(62,960)

–  

Other income

67,022

16,814

298.61%

Finance cost

(460,713)

(487,222)

-5.44%

Profit before taxation

1,165,636

1,425,375

-18.22%

Taxation

(2,813)

  –  

Profit for the year

1,162,823

1,425,375

-18.42%

Earnings per share – basic and diluted (Rupees)

3.17

3.88

-18.30%

Copyright Mettis Link News

Posted on: 2022-02-21T14:07:29+05:00

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