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

By MG News | April 26, 2019 at 05:50 PM GMT+05:00

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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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