October 29, 2019 (MLN): Nishat Mills Limited (NML) has announced has reported its financial results today for the quarter ended September 30th 2019, according to which it has posted its consolidated net profits of Rs 2.29 billion (EPS: Rs 4.67), up by 13.76% YoY compared to last year net profit of Rs 2 billion (EPS: Rs 4.37).
The topline earnings increased by 9.29% on the back of currency depreciation.
The company’s gross profit increased by 38.04% due to lower cotton cost inventory consoling gross margins during the quarter.
Total expenses of the company rose by 32.79% YoY during corresponding period of last year.
Moreover, finance cost surged by 52%, from Rs 673 million to Rs 442 million owing to massive increase in reliance on borrowings along with higher interest rates.
|
Profit and Loss Statement for the year quarter ended September 30th 2019 ('000 Rupees)
|
|||
|---|---|---|---|
|
|
Sep-19 |
Sep-18 |
% Change |
|
Revenue |
25,477,386 |
23,311,732 |
9.29% |
|
Cost of Sales |
(20,316,100) |
(19,572,819) |
3.80% |
|
Gross Profit |
5,161,286 |
3,738,913 |
38.04% |
|
Distribution cost |
-1548121 |
-1232454 |
25.61% |
|
Administrative expenses |
(502,624) |
(433,529) |
15.94% |
|
Other expenses |
(237,655) |
(57,373) |
314.23% |
|
total expenses |
(2,288,400) |
(1,723,356) |
32.79% |
|
|
2,872,886 |
2,015,557 |
42.54% |
|
Other income |
521,367 |
500,056 |
4.26% |
|
profit from operation |
3,394,253 |
2,515,613 |
34.93% |
|
Finance cost |
(673,640) |
(442,793) |
52.13% |
|
|
2,720,613 |
2,072,820 |
31.25% |
|
share of profit from other companies |
(118,447) |
189,778 |
|
|
Profit before taxation |
2,602,166 |
2,262,598 |
15.01% |
|
Taxation |
(304,526) |
(242,857) |
|
|
Profit for the period |
2,297,640 |
2,019,741 |
13.76% |
|
Earnings per share – basic and diluted (Rupees) |
4.67 |
4.37 |
6.86% |
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