Nishat Power profit surges 32%

MG News | September 03, 2024 at 01:22 PM GMT+05:00
September 03, 2024 (MLN): Nishat Power Limited (PSX: NPL) posted the highest ever profit after tax of Rs5.39 billion [EPS: Rs15.22] in the fiscal year 2024, up 31.7% compared to last year owing to a significantly higher other income.
The EPS (trailing twelve months) of Rs15.22 was also the highest ever recorded for the company.
Moreover, the company announced a final cash dividend of Rs5 per share i.e. 50%. This is in addition to the interim dividend already paid at Rs4.5 per share i.e. 45%.
The total dividend for the year thus reached an all-time high of Rs9.5 per share.
The company's sales fell 2.4% to Rs22.51bn as compared to Rs23.07bn in SPLY.
Cost of sales also declined by 6.1%, which improved the gross profit by 12.4% to Rs5.14bn in fiscal year ending June 2024.
The gross margins increased to 22.8% as compared to 19.8% in SPLY.
During the year, other income surged 504.5% to Rs1.08bn as compared to Rs178.45m in SPLY.
On the expense side, the company's administrative expenses rose 20.2% to Rs482.39m, while other operating expenses fell 94.4% to Rs9.07m from year ago.
The company’s finance cost marked a decline of 62.0% and stood at Rs33.64m as compared to Rs88.43m in SPLY.
On the tax front, the company paid a significantly larger tax worth Rs304.4m against the Rs8.06m paid in the corresponding period of last year, depicting a rise of 3,677.1%.
This translate to an effective tax rate of 5.3% compared to just 0.2% in 2023.
Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000) | |||
---|---|---|---|
Jun 24 | Jun 23 | % Change | |
Sales | 22,505,489 | 23,068,964 | -2.44% |
Cost of sales | (17,365,234) | (18,495,640) | -6.11% |
Gross Profit/ (loss) | 5,140,255 | 4,573,324 | 12.40% |
Administrative Expenses | (482,393) | (401,493) | 20.15% |
Other Income | 1,078,822 | 178,452 | 504.54% |
Other Operating Expenses | (9,068) | (162,761) | -94.43% |
Finance Cost | (33,643) | (88,434) | -61.96% |
Profit/ (loss) before taxation | 5,693,973 | 4,099,088 | 38.91% |
Taxation | (304,399) | (8,059) | 3677.13% |
Net profit/ (loss) for the period | 5,389,574 | 4,091,029 | 31.74% |
Basic earnings/ (loss) per share | 15.22 | 11.55 | - |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 166,974.46 263.86M | 0.91% 1498.44 |
ALLSHR | 101,425.26 470.18M | 1.09% 1098.48 |
KSE30 | 51,326.02 98.83M | 0.57% 291.26 |
KMI30 | 244,010.75 53.87M | 0.40% 972.25 |
KMIALLSHR | 67,039.73 224.49M | 0.91% 602.26 |
BKTi | 47,245.98 50.49M | 1.34% 622.66 |
OGTi | 32,851.52 8.69M | 1.17% 379.40 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 112,760.00 | 114,040.00 112,200.00 | -325.00 -0.29% |
BRENT CRUDE | 62.23 | 62.40 62.02 | -0.16 -0.26% |
RICHARDS BAY COAL MONTHLY | 80.50 | 80.50 80.50 | -1.00 -1.23% |
ROTTERDAM COAL MONTHLY | 89.00 | 89.00 88.75 | -0.10 -0.11% |
USD RBD PALM OLEIN | 1,085.00 | 1,085.00 1,085.00 | 0.00 0.00% |
CRUDE OIL - WTI | 58.58 | 58.79 58.37 | -0.12 -0.20% |
SUGAR #11 WORLD | 15.87 | 15.94 15.36 | 0.26 1.67% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|