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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