September 16, 2021 (MLN): Nishat Power Limited (NPL) has reported consolidated net profits of Rs2.68 billion (EPS: Rs 7.57) during FY21, depicting a decline of around 45% YoY against net profits of Rs4.87bn (EPS: Rs 13.75) in the same period of last year.
The profitability of the company went down primarily due to reduction in CPP component as NPL retired its debt.
During the said period, the company’s revenue went down by 2% YoY to Rs11.43bn on the back of the absence of debt portion, Arif Habib research cited.
On the cost side, the administrative cost of the company dropped by 10% YoY to stand at Rs302 million.
However, the positive highlight is an upsurge in other income which has reached to Rs42.07mn in FY21 against Rs7.29mn in FY20.
Meanwhile, a massive decline of 72% YoY in finance cost provided much-needed respite to the bottom line due to lower short-term borrowings as well as the lower interest rates.
Alongside the financial results, the company has also announced a cash dividend of Rs1.5 per share for the year ended June 30, 2021.
Consolidated Financial Results for the year ended June 30, 2021 ('000 Rupees)
