NML’s net earnings grow by 9% annually

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%

 

Copyright Mettis Link News

Posted on: 2019-09-19T15:52:00+05:00

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