Nishat Chunain reports 13% rise in net earnings during 1HFY20

By MG News | February 27, 2020 at 12:46 PM GMT+05:00

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February 27, 2020 (MLN): Nishat Chunian Power Limited (NCPL) has announced its financial results today, wherein it has reported profits of Rs. 2.09 billion (EPS: Rs. 5.71) for the half year, and Rs. 1.02 billion (EPS: Rs. 2.8) for the quarter ended December 31, 2019.

Even though the company’s topline earnings fell by 8.2% due to lower load factor, the gross earnings managed to rise by 30% owing to the fall in cost of production by 24% during the first six months of Fiscal Year 2020.

Another major highlight from the company’s results was the 91% increase in finance costs, which ensued from increase in interest rates as well as rising demand for working capital.

Profit and Loss Statement for the half-year ended December 31, 2019 ('000 Rupees)
	Dec-19	Dec-18	% Change
Sales	7,782,328	8,481,574	-8.24%
Cost of Sales	(4,496,388)	(5,955,667)	-24.50%
Gross Profit	3,285,940	2,525,907	30.09%
Administrative expenses	(76,169)	(88,186)	-13.63%
Other operating expenses	(599)	(4,186)	-85.69%
Other income	22,661	14,430	57.04%
Finance cost	(1,133,982)	(593,657)	91.02%
Profit before taxation	2,097,851	1,854,308	13.13%
Taxation	-	-
Profit for the year	2,097,851	1,854,308	13.13%
Earnings per share - basic and diluted (Rupees)	5.71	5.05	13.07%

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