April 25, 2025 (MLN): Nishat Power Limited (PSX: NPL) slipped into the red during the nine months ended March 31, 2025, posting a net loss of Rs3.28 billion compared to a profit of Rs3.85bn in the same period last year, driven largely by a substantial adjustment of Rs5.59bn payable by CPPA-G and a sharp fall in revenue.
The company’s Earnings Per Share (EPS) fell to negative Rs8.93, compared to a positive EPS of Rs10.48 in the same period last year.
Despite the downturn, the Board of Directors has approved an interim cash dividend of Rs2 per share, representing 20% of the face value.
The company’s revenue from contracts with customers plummeted by 67.7% year-on-year, falling to Rs4.03bn from Rs12.48bn. Despite a 77.3% drop in cost of sales, gross profit declined by 47%, amounting to Rs2.1bn.
Administrative expenses more than doubled, increasing by 81.2% to Rs238m, while other operating income more than doubled to Rs554m, up 135% from Rs236m last year though insufficient to offset the major drag from CPPA-G adjustments.
Operating profit dropped by 41% to Rs2.4bn, while finance costs were drastically cut by 94% to Rs13.5m, compared to Rs225m in the same period last year.
However, the one-time adjustment to balance payable by CPPA-G severely impacted the bottom line, dragging the company into a pre-tax loss of Rs3.19bn.
After taxation of Rs88.8m, the net loss stood at Rs3.28bn.
|
Financial Results for the nine months ended March 31, 2025 (Rs '000) |
|||
|
Mar-25 |
Mar-24 |
%change |
|
|
Revenue from Contract with Customers |
4,031,553 |
12,479,929 |
-67.6% |
|
Cost of Sales |
(1,930,414) |
(8,510,553) |
-77.3% |
|
Gross Profit |
2,101,139 |
3,969,376 |
-47% |
|
Administrative Expenses |
(238,409) |
(131,540) |
81.2% |
|
Other Expenses |
(10,549) |
– |
– |
|
Other Operating Income |
553,764 |
235,712 |
134.9% |
|
Profit from Operations |
2,405,945 |
4,073,548 |
-40.9% |
|
Finance Cost |
(13,522) |
(225,248) |
-93.9% |
|
Adjustments to Balance Payable by CPPA-G |
(5,585,132) |
– |
– |
|
Loss Before Taxation |
(3,192,709) |
3,848,300 |
|
|
Taxation |
(88,770) |
(319) |
27727.59% |
|
Profit After Taxation |
(3,281,479) |
3,847,981 |
– |
|
Earnings Per Share (Basic & Diluted) |
(8.93) |
10.48 |
|
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Posted on: 2025-04-25T16:11:16+05:00
