April 29, 2020 (MLN): Nishat Chunian Power Limited (NCPL) has disclosed its financial results for the 9MFY20 ended March 31, 2020 wherein the company reported its net profit of Rs 3.4 billion (EPS: Rs 9,26), showing a growth of 30.5% YoY against net profits of Rs 2.6 billion (EPS: Rs 7.09) in the same period of last fiscal year.
The rise in profitability emanated from an increase in penal income and a higher USD indexation factor.
As per the financial statement, NCPL’s sales revenue went down by 6.44% YoY but more than a proportionate decrease in the cost of sales by 27% YoY, resulting in an increase in gross profits by 34.67% YoY. Therefore, the gross margin jumped from 34% to 48%.
During the period under review, administrative costs and other operating expenses dropped by 28% YoY and 99% YoY, respectively.
Meanwhile, due to higher interest rates and greater working capital requirement, finance cost ballooned by 70% YoY, keeping the company’s profitability in check.
Profit and Loss Statement for the nine months ended March 31, 2020 ('000 Rupees)
