NML’s net earnings grow by 9% annually

By MG News | September 19, 2019 at 03:52 PM GMT+05:00

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September 19, 2019 (MLN): Nishat Limited (NML) has announced its financial results today for the year ended June 30^th 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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