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Nishat Power experiences 41% decline in earnings due to repayment of long-term loans

February 12, 2021 (MLN): Nishat Power Limited (NPL) announced its financial results for the half-year ended December 31, 2020 on Friday, which show earnings of Rs. 1.46 billion (EPS: 4.14), i.e. nearly 41% lower than the profits recorded during the same period of last year.

The drop in earnings by such a margin was a result of repayment of long-term loan, which resulted in absence of debt servicing charge in capacity payments for FY21.

The company also saw a decline in revenue by 25.5% on account of lower FO prices and lower dispatches.

However, the company drew some relief from a decline in finance cost by 71.3%, owing to lower short-term borrowings as well as lower interest rate.

Consolidated Financial Results for the Half-Year ended December 31, 2020 (Rupees in '000)

 

Dec-20

Dec-19

% Change

Sales

5,407,073

7,262,159

-25.5%

Cost of sales

(3,616,331)

(3,924,998)

-7.9%

Gross profit

1,790,742

3,337,161

-46.3%

Administrative expenses

(137,823)

(176,370)

-21.9%

Other income

4,983

3,633

37.2%

Finance cost

(191,343)

(667,809)

-71.3%

Profit before taxation

1,466,559

2,496,615

-41.3%

Taxation

     

Profit for the period

1,466,559

2,496,615

-41.3%

Earnings per share

4.14

7.05

-41.3%

 

Copyright Mettis Link News

Posted on: 2021-02-12T12:53:00+05:00

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