NPL’s profitability heightens by 31% YoY

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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Posted on: 2020-02-13T16:31:00+05:00

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