NML’s net earnings grow by 9% annually
MG News | September 19, 2019 at 03:52 PM GMT+05:00
September 19, 2019 (MLN): Nishat Limited (NML) has announced its financial results today for the year ended June 30th 2019, according to which it has posted its net profits of Rs.9.6 billion (EPS: Rs.22) , up by 9.19% YoY compared to last year net profit of Rs.8.8 billion (EPS: Rs.20.72).
The company observed a significant growth in topline earnings by 13.32% due to depreciation of PKR which resulted in rise of selling price of products.
The gross profits of the company increased by 24.23% to Rs.16.89 billion to attributable to strong business performance.
Furthermore, the other income recorded a surge of 60.65% to Rs.3.4 billion YoY, owing to one-off exchange gains and given dividend income from portfolio companies.
| Profit and Loss Statement for the year ended June 30th 2019 ('000 Rupees)
| |||
|---|---|---|---|
|
| Jun-19 | Jun-18 | % Change |
| Sales | 96,005,322 | 84,723,042 | 13.32% |
| Cost of Sales | (79,108,980) | (71,144,010) | 11.20% |
| Gross Profit | 16,896,342 | 13,579,032 | 24.43% |
| Distribution cost | (5741161) | (5023747) |
|
| Administrative expenses | (1,833,976) | (1,812,724) | 1.17% |
| Other expenses | (394,678) | (217,337) | 81.60% |
| Total expenses | (7,969,815) | (7,053,808) |
|
|
| 8,926,527 | 6,525,224 |
|
| Other income | 3,422,072 | 2,130,139 | 60.65% |
| Profit from operation | 12,348,599 | 8,655,363 |
|
| Finance cost | (2,665,183) | (1,778,526) | 49.85% |
| share of profit from other companies | 1,300,879 | 3,411,660 |
|
| Profit before taxation | 10,984,295 | 10,288,497 | 6.76% |
| Taxation | (1,331,201) | (1,447,691) |
|
| Profit for the year | 9,653,094 | 8,840,806 | 9.19% |
| Earnings per share - basic and diluted (Rupees) | 22.20 | 20.72 | 7.14% |
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