Nishat Power Ltd profits fecund by 14.4%

MG News | October 22, 2018 at 03:29 PM GMT+05:00

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October 22, 2018 (MLN): The profits for Nishat Power Limited have demonstrated a positive growth of 14.4% for the Quarter ended September 30^th 2018, largely owing to the improved top-line earnings and absence of taxes for the company.

According to the notification issued to PSX by the company, the top-line earnings increased by a larger absolute value of Rs1.2 billion (+28.09%) as compared to increase in Cost of sales by Rs1.1 billion (+32.8%), creating an overall progressive impact on the gross profits by 13.66%.

Furthermore, the drop core and non-core expenses by 7.99% and 47.88% respectively, combined with an increase in non-core income by 72.93% created a manifold impact on the ultimate earnings of the company.

Even though the finance costs up surged considerably by Rs37 million, the company’s overall outcome for the profits before and after taxation turned out to be prolific.

Profit and loss account for the quarter ended September 30th 2018 ('000 Rupees)
	Sep-18	Sep-17	% Change
Sales	5,846,191	4,564,303	28.09%
Cost of sales	-4,569,478	-3,440,988	32.80%
Gross profit	1,276,713	1,123,315	13.66%
Administrative expenses	-71,670	-77,891	-7.99%
Other expenses	-1,366	-2,621	-47.88%
Other income	1,821	1,053	72.93%
Finance cost	-221,608	-183,817	20.56%
Share of loss of associate		-9
Profit before taxation	983,890	860,030	14.40%
Taxation	-	-
Profit for the period	983,890	860,030	14.40%
Earnings per share - basic and diluted (in Rupees)	2.779	2.429	14.41%

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