Nishat Chunian reports loss of Rs752m in FY23

News Image

MG News | September 28, 2023 at 12:48 PM GMT+05:00

September 28, 2023 (MLN): Nishat Chunian Limited (PSX: NCL) unveiled its financial statements for FY23, wherein the loss after tax clocked in at Rs752.63 million [LPS: Rs3.63].

This is a significant turnover when compared to a profit worth Rs9.85 billion [EPS: Rs35.92] earned in the previous year (SPLY).

Going by the results, the company's top line fell by 19.4% YoY to Rs70.95bn as compared to Rs88.03bn in FY22.

The cost of sales also fell by 10.44% YoY but was lesser than proportionate to sales decline, which worsened the gross profit by 57.46% YoY to Rs7.13bn in FY23.

During the year, other income grew by 24.21% YoY to stand at Rs948.01m in FY23 as compared to Rs763.26m in SPLY.

On the expense side, the company observed a fall in Distribution cost by 9.89% YoY and other expenses by 82.39% YoY to clock in at Rs1.71bn and Rs193.31m respectively during the review period.

While the company’s finance costs soared by 77.36% YoY and stood at Rs5.5bn as compared to Rs3.1bn in the previous year, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs912.05m against the Rs881.53m paid in the corresponding period of last year, depicting an increase of 3.46% YoY.

Consolidated (un-audited) Financial Results for year ended 30 June, 2023 (Rupees in '000)
  June 23 June 22 % Change
Sales 70,949,361 88,025,787 -19.40%
Cost of sales (63,814,404) (71,252,893) -10.44%
Gross Profit 7,134,957 16,772,894 -57.46%
Distribution cost (1,711,532) (1,899,291) -9.89%
Administrative expenses (522,630) (707,742) -26.16%
Other Income 948,007 763,256 24.21%
Other expenses (193,309) (1,097,424) -82.39%
Finance cost (5,496,070) (3,098,814) 77.36%
Profit before taxation 159,423 10,732,880 -98.51%
Taxation (912,051) (881,527) 3.46%
Net profit for the period (752,628) 9,851,352 -
Basic earnings/ (loss) per share (3.63) 35.92 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 175,927.74
343.88M
0.07%
124.95
ALLSHR 106,419.79
671.14M
-0.14%
-148.49
KSE30 52,615.81
89.17M
0.23%
118.13
KMI30 247,816.35
125.20M
0.20%
492.98
KMIALLSHR 68,232.70
442.45M
-0.12%
-82.56
BKTi 50,085.21
22.82M
0.30%
149.09
OGTi 34,742.63
8.07M
-0.04%
-15.39
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 65,455.00 0.00
0.00
270.00
0.41%
BRENT CRUDE 88.88 91.42
86.12
0.78
0.89%
RICHARDS BAY COAL MONTHLY 105.75 0.00
0.00
-1.25
-1.17%
ROTTERDAM COAL MONTHLY 119.80 0.00
0.00
0.10
0.08%
USD RBD PALM OLEIN 1,135.00 1,135.00
1,135.00
0.00
0.00%
CRUDE OIL - WTI 82.42 84.60
79.58
0.64
0.78%
SUGAR #11 WORLD 14.81 14.94
14.73
-0.02
-0.13%

Chart of the Day


Latest News
July 21, 2026 at 02:06 AM GMT+05:00

Govt raises HSD price by Rs5.71, cuts petrol by Rs0.35


July 20, 2026 at 06:58 PM GMT+05:00

Bank deposits surge 15% in May


July 20, 2026 at 06:42 PM GMT+05:00

Bank deposit rate falls by 29bps in Jun


July 20, 2026 at 06:23 PM GMT+05:00

Overseas investors repatriate $2.3bn in 12MFY26



Top 5 things to watch in this week

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