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) |
|||
---|---|---|---|
 |
Mar-20 |
Mar-19 |
% Change |
Sales |
 10,588,940 |
 11,318,100 |
-6.44% |
Cost of Sales |
 (5,461,792) |
 (7,510,855) |
-27.28% |
Gross Profit |
 5,127,148 |
 3,807,245 |
34.67% |
Administrative expenses |
 (109,874) |
 (153,630) |
-28.48% |
Other operating expenses |
 (825) |
 (110,688) |
-99.25% |
Other income |
 29,516 |
 27,928 |
5.69% |
Finance cost |
 (1,644,029) |
 (965,280) |
70.32% |
Profit before taxation |
 3,401,936 |
 2,605,575 |
30.56% |
Taxation |
 –  |
 –  |
– |
Profit for the year |
 3,401,936 |
 2,605,575 |
30.56% |
Earnings per share – basic and diluted (Rupees) |
 9.26 |
 7.09 |
30.61% |
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