May 06, 2022 (MLN): Nishat Chunian Power Limited (NCPL) has made profits of Rs8.64 billion (EPS: 20.94) during the nine months ended on March 31, 20202, signifying a growth of almost 63.75% YoY, compared to the same period last year.
The company recorded a 41.44% surge in its topline to clock in at Rs63.37bn as the period has been turning out to be a phenomenal one, especially for the spinning business, where the company saw both the cotton prices and margins surpassing all expectations.
Moreover, the switch of orders from China to South Asian countries, especially Pakistan, will have a long-term impact on Pakistan’s textile industry. Value Added sector is facing the brunt of increasing yarn prices as the retailers are adjusting to the new realities gradually.
With the intensity of the pandemic receding, life is returning to normal worldwide, this has resulted in a demand push, resultantly pushing the commodity prices upward. This upward push of commodity prices has resulted in high inflation both domestically and internationally.
On the expense front, the distribution cost and administrative expense have jumped by 34.43% YoY, and 17% YoY respectively while the finance cost showed an increase of 7.61% due to higher interest rates.
On the other hand, other operating income plunged by 50% YoY to stand at Rs426.8 million.
The company paid Rs536mn in terms of taxation during 9MFY22 compared to Rs441mn in 9MFY21.
|
Profit and Loss Statement for the nine months ended March 31, 2022 (Rupees) |
|||
|---|---|---|---|
|
Mar-22 |
Mar-21 |
% Change |
|
|
Sales |
63,374,479,378 |
44,807,511,364 |
41.44% |
|
Cost of Sales |
-50,101,603,557 |
-36,385,778,110 |
37.70% |
|
Gross Profit |
13,272,875,821 |
8,421,733,254 |
57.60% |
|
Distribution Cost |
-1,294,880,725 |
-963,233,451 |
34.43% |
|
Administrative expenses |
-363,701,005 |
-311,037,673 |
16.93% |
|
Other operating expenses |
-613,336,819 |
-187,676,552 |
226.81% |
|
Other operating income |
426,887,463 |
847,257,446 |
-49.62% |
|
Finance cost |
-2,242,720,226 |
-2,084,364,017 |
7.60% |
|
Profit before taxation |
9,185,124,509 |
5,722,679,007 |
60.50% |
|
Taxation |
-536,595,232 |
-441,256,600 |
21.61% |
|
Profit after taxation |
8,648,529,277 |
5,281,422,407 |
63.75% |
|
Earnings per share – basic and diluted (Rupees) |
32.14 |
17.79 |
80.66% |
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