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
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Posted on: 2024-09-03T13:22:39+05:00
