NPL's profitability heightens by 31% YoY

MG News | February 13, 2020 at 04:31 PM GMT+05:00

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February 13, 2020 (MLN): Nishat Power Limited (NPL) has posted net profits of Rs 2.49 billion for the half-year ended on December 31^st 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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