Nishat Chunian Power profit slumps 13%

News Image

By MG News | September 03, 2024 at 03:43 PM GMT+05:00

0:00

September 03, 2024 (MLN): Nishat Chunian Power Limited (PSX: NCPL) recorded a net profit of Rs1.06 billion [EPS: Rs2.89] in April-June, down 13.1% year-on-year on account of a significant drop in sales.

The company's sales revenue plunged 37.2% to Rs2.74bn as compared to Rs4.35bn in SPLY.

Cost of sales also fell 37.9% but was not enough to offset the sales decline, worsening the gross profit by 35.6% to Rs918.66m in the latest quarter that ended June 2024.

The gross margins, however, improved slightly to 33.6% as compared to 32.8% in SPLY.

During the period under review, other income surged by 763.2% to Rs219.66m as compared to Rs25.45m in SPLY.

On the expense side, the company's administrative expenses rose 36.0% to Rs57.73m, while other operating expenses fell 7.8% to Rs6.22m compared to same period last year.

The company’s finance cost also decreased significantly by 98.6% and stood at just Rs2.41m as compared to Rs177.56m in SPLY.

On the tax front, the company paid tax worth Rs7.63m, translating to an effective tax rate of 0.7%.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 2,735,158 4,352,365 -37.16%
Cost of sales (1,816,497) (2,926,217) -37.92%
Gross Profit/ (loss) 918,661 1,426,148 -35.58%
Administrative Expenses (57,732) (42,439) 36.04%
Other Income 219,661 25,448 763.18%
Other Operating Expenses (6,217) (6,739) -7.75%
Finance Cost (2,411) (177,564) -98.64%
Profit/ (loss) before taxation 1,071,962 1,224,854 -12.48%
Taxation (7,631) (26) 29,250.00%
Net profit/ (loss) for the period 1,064,331 1,224,828 -13.10%
Basic earnings/ (loss) per share 2.89 3.33 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,335.00 108,390.00
105,440.00
2585.00
2.44%
BRENT CRUDE 67.86 68.00
66.94
0.75
1.12%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 103.80 0.00
0.00
-3.70
-3.44%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.22 66.31
65.23
0.77
1.18%
SUGAR #11 WORLD 15.86 15.97
15.77
0.16
1.02%

Chart of the Day


Latest News
July 02, 2025 at 04:02 PM GMT+05:00

PSX Closing Bell: Record Breaker


July 02, 2025 at 03:54 PM GMT+05:00

PKR decreases by 19 paisa against USD


July 02, 2025 at 03:28 PM GMT+05:00

Ahsan Iqbal directs preparations for N-25 project launch


July 02, 2025 at 02:56 PM GMT+05:00

OMO Result: SBP injects Rs1.16tr


July 02, 2025 at 02:51 PM GMT+05:00

NEPRA approves uniform power tariff for FY26



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg