Nishat Chunian profits soar to Rs9.85bn

MG News | September 29, 2022 at 01:29 PM GMT+05:00

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September 29, 2022 (MLN): Nishat Chunian Limited (NCL) announced results for FY22, wherein the company declared a profit of Rs9.85 billion, the company’s stock filings on the stock exchange showed.

In the filing, the company declared a 21.82% growth in profit to Rs9.85bn as compared to Rs8.09bn in the same period last year, translating into earnings per share of Rs35.92 against Rs28.56 in FY21.

NCL’s topline shows an increase of 43.19%, to Rs88.03bn against Rs61.48bn in FY21.

The company’s gross profit was up by 29.65%, to Rs16.77bn against Rs12.94bn in FY21.

Profit-before-taxation increased to Rs10.73bn up by 22.50% compared to Rs8.76bn in the same period last year.

Furthermore, the company announced a dividend of 40% at Rs4 per share.

The company further informed that it is seeking shareholder approval to authorize the investment of Rs1bn by way of advances to Nishat Chunian Power Limited, an associate company.

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