October 30, 2024 (MLN): Nishat Power Limited (PSX: NPL) recorded an increase of 13.4% YoY in its quarterly earnings, clocking in its profit after tax at Rs1.65 billion [EPS: Rs4.67], compared to the bottom line of Rs1.46bn [EPS: Rs4.12] in the same period last year (SPLY).
Along with the results, the Board of Directors (BoD) of ABL recommended an interim cash dividend of Rs2 per share.
The company achieved this profit growth despite its top line decreasing 72.1% to Rs2.73bn.
This is because costs of sales fell by a greater value, which slightly improved the gross profit to Rs1.41bn in Q3 CY24.
Other income was another supporting factor which rose 162.9% to stand at Rs444.27m in Q3 CY24 as compared to Rs169.01m in SPLY.
On the expense side, the company's administration expenses rose 15.3% YoY to Rs123.51m.
The company’s finance cost soared by 211.9% and stood at Rs5.41m as compared to Rs1.74m in SPLY, mainly due to higher interest rates.
On the tax front, the company paid a higher tax worth Rs74.19m against the Rs0.12m paid in the corresponding period of last year.
Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
