Nishat Chunian Power posts profits worth Rupees 1.745 billion

MG News | February 27, 2018 at 01:12 PM GMT+05:00

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Nishat Chunian Power Limited today released financial statements for the half year ending December, 31^st 2017. The company reported ales worth Rupees 8.475 billion whereas reporting a total of 1.745 billion worth of profits for the period.

The company during the period reported a 65% decline in other expenses, with an increase of 57% in Administrative Expenses.

Also, the company’s other income decreased by 35% during the half year. Due to a tax relaxation from the Government on power projects, the company managed to post a healthy sum of Rupees 1.745 billion as the bottom-line profits for the period.

Nishat Chunian Power Limited posted earnings per share of rupees 4.751 per share during the second half of year 2017 against 3.759 per share at same period last year.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Sales	8,475,525	7,418,926	14.24%
Cost of Sales	6,077,556	5,417,894	12.18%
Gross Profit	2,397,969	2,001,031	19.84%
Administrative Expenses	125,498	79,866	57.14%
Other Expenses	6,781	19,348	-64.95%
Other Income	12,320	18,975	-35.07%
Finance Cost	532,894	540,029	-1.32%
Profit before Taxation	1,745,115	1,380,764	26.39%
Taxation	-	-
Profit after Taxation	1,745,115	1,380,764	26.39%
EPS - Basic and diluted	4.751	3.759	26.39%

Company release on Earnings Report can be accessed here.

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