Nishat Chunian Power posts profits worth Rupees 1.745 billion
MG News | February 27, 2018 at 01:12 PM GMT+05:00
Nishat Chunian Power Limited today released financial statements for the half year ending December, 31st 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.
| Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30th 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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