NPL's profitability heightens by 31% YoY
MG News | February 13, 2020 at 04:31 PM GMT+05:00
February 13, 2020 (MLN): Nishat Power Limited (NPL) has posted net profits of Rs 2.49 billion for the half-year ended on December 31st 2019, translating into earning per share which clocked in at Rs 7 per share.
When compared with the corresponding period of last year, the profits grew by 31% YoY mainly due to higher penal income and a positive impact of USD indexation.
During the period, the Company posted a turnover of Rs 7.2 billion against the cost of sales of Rs 3.9 billion, resulting in a gross profit of Rs 3.3 billion which was 34.7% higher than gross profits of the same period last year.
Furthermore, due to the lower load factor, the cost of sales of the company declined by 39%YoY. As a result, the gross margins of the company improved from 28% to 46%.
In a higher interest rate environment, the financial charges of the company rose by 49% YoY on account of excess short-term borrowing.
| Financial Results for the year ended December 31, 2019 ('000 Rupees) | |||
|---|---|---|---|
|
| Dec-19 | Dec-18 | % Change |
| Sales | 7,262,159 | 8,917,570 | -18.56% |
| Cost of sales | (3,924,998) | (6,440,282) | -39.06% |
| Gross profit | 3,337,161 | 2,477,288 | 34.71% |
| Administrative expenses | (176,370) | (131,594) | 34.03% |
| Other expenses | - | (2,962) |
|
| Other income | 3,633 | 3,965 | -8.37% |
| Finance cost | (667,809) | (448,018) | 49.06% |
| Share of loss of associate | - | - |
|
| Profit before taxation | 2,496,615 | 1,898,679 | 31.49% |
| Taxation | - | - |
|
| Profit for the year | 2,496,615 | 1,898,679 | 31.49% |
| Earnings per share - basic and diluted (Rupees) | 7.051 | 5.362 | 31.50% |
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