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

07:53
February 12, 2021
MG

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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43	KES	132.50000	134.50000	134.50000	132.50000	06:46 AM
44	AMD	368.65800	425.05600	425.05593	368.65753	09:00 PM
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46	XAU	2,381.12000	2,381.47000	2,381.47000	2,381.12000	06:59 AM
47	XAG	28.27420	28.28500	28.28500	28.27420	06:59 AM
48	XPT	929.72100	936.53000	936.53000	929.72100	03:59 PM
49	XPD	999.25000	1,009.25000	1,009.25000	999.25000	03:59 PM
2,120	VES	36.25120	36.34220	36.34216	36.25125	08:00 PM
2,212	UGX	3,780.61000	3,865.21000	3,865.20656	3,780.60817	09:00 PM
2,213	TZS	2,584.99000	2,585.01000	2,585.01500	2,584.98500	06:47 AM

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KMIALLSHR	33,051.27	33,029.477	32,695.54	305.610	0.934	285,218,276.0	18,410,177,417.350	-1	19/04/2024 04:14 PM
BKTi	17,829.29	17,822.145	17,489.40	240.097	1.366	14,116,196.0	1,384,599,196.570	-1	19/04/2024 04:14 PM
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