NPL’s net profits improve by 38% owing to lower cost of sales and operating expenses

April 26, 2019 (MLN):  Nishat Power Limited (NPL) has announced its financial results for the quarter ended on March 31st 2019, as per which company stated net profits of Rs. 1 billion with EPS recorded at Rs 2.9, i.e. around 38.2% higher than the figures of same quarter previous year.

 The increase in profitability was primarily attributable to lower cost  of sales and administrative expenses, as both declined substantially by 54% and 45% respectively.

During the quarter, company also witnessed a decline in sales  by 31% mainly due to drop in dispatches and increase in furnace oil prices.

However,  company's gross margin improved by 23.7% mainly due to PKR depreciation.

Moreover, the Board of Directors of the company announced a cash dividend of PKR 1.5/share i.e. 15% for the above mentioned period.

Financial Results for the Quarter ended March 31st 2019 ('000 Rupees)

 

Mar-19

Mar-18

% Change

Sales

                        2,661,091

                        3,903,143

-31.82%

Cost of sales

                      (1,318,013)

                      (2,859,520)

-53.91%

Gross profit

                        1,343,078

                        1,043,623

28.69%

Administrative expenses

                            (62,341)

                         (113,780)

-45.21%

Other expenses

                                       –  

                                  (384)

-100.00%

Other income

                                1,996

                                4,448

-55.13%

Finance cost

                         (250,503)

                         (187,115)

33.88%

Share of loss of associate

                                       –  

                                       –  

 

Profit before taxation

                        1,032,230

                            746,792

38.22%

Taxation

                                       –  

 –

 

Profit for the year

                        1,032,230

                            746,792

38.22%

Earnings per share – basic and diluted (Rupees)

                                2.915

                                2.109

38.22%

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Posted on: 2019-04-26T17:50:00+05:00

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