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.
Comparison of Key Financials
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.
