Nishat Chunian profits exhibit tremendous growth of 140% for 1QFY19

MG News | October 29, 2018 at 01:47 PM GMT+05:00

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October 29, 2018 (MLN): Nishat Chunian Limited (NCL) has disclosed tremendous improvement in its bottom-line earnings as they grew by 140.26% for the quarter ended 30^th September 2018, as compared to corresponding period last year. The increment in profits was a result of enhanced core and non-core income of the company.

According to the notification issued to PSX, the top-line earnings of the company augmented by 11.17%, more than enough to cover the increase in Cost of sales by 3.5%, which subsequently led to the Gross Profits increasing by 59.67%.

Even though the operating expenses of the company showed considerable increases, the growth in other operating income by 555% i.e. Rs154 million greatly contributed in pulling up the profits of the company.

On a similar note, the finance cost and taxation cost also increased by 12.31% and 18.96% respectively, making insignificant impact on the ultimate profits of the company.

The Earnings per share for the company were stated at Rs5.68 for the quarter ended 30^th September 2018.

Profit and loss account for the quarter ended September 30th 2018
	Sep-18	Sep-17	% Change
SALES	14,819,049,634	13,330,345,558	11.17%
COST OF SALES	-11,913,102,694	-11,510,403,563	3.50%
GROSS PROFIT	2,905,946,940	1,819,941,995	59.67%
DISTRIBUTION COST	-283,238,072	-246,485,692	14.91%
ADMINISTRATIVE EXPENSES	-120,946,981	-105,563,837	14.57%
OTHER OPERATING EXPENSES	-50,079,507	-10,326,127	384.98%
OTHER OPERATING INCOME	182,803,360	27,881,408	555.65%
FINANCE COST	-735,747,806	-655,105,677	12.31%
PROFIT BEFORE TAXATION	1,898,737,934	830,342,070	128.67%
TAXATION	-94,390,394	-79,347,117	18.96%
PROFIT AFTER TAXATION	1,804,347,540	750,994,953	140.26%
EARNINGS PER SHARE - BASIC & DILUTED	5.68	1.30	336.92%

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