NPL’s profits grow by 36% due to lower O&Ms and higher efficiency

October 23, 2019: Nishat Power Limited (NPL) has declared net earnings of Rs. 1.3 billion (EPS: Rs. 3.779) for the quarter ended September 30, 2019, i.e. around 36% higher as compared to the corresponding period of last year.

According to the notification issued to PSX by the company, the top-line earnings decreased by 15.29% to Rs. 4.9 billion due to drop in load factor. However, the decline in cost of sales by 30% helped in lifting the gross profits by 37%.

According to a research report by BIPL Securities, the gross margins of the company improved on the back of lower O&Ms as well as higher efficiency.

Even though the finance costs surged considerably by 80%, the company’s overall result for the period turned out to be prolific.

Financial Results for the quarter ended September 30, 2019 ('000 Rupees)

 

Sep-19

Sep-18

% Change

Sales

4,952,515

5,846,191

-15.29%

Cost of sales

(3,200,175)

(4,569,478)

-29.97%

Gross profit

1,752,340

1,276,713

37.25%

Administrative expenses

(75,536)

(71,670)

5.39%

Other expenses

 

(1,366)

 

Other income

234

1,822

-87.16%

Finance cost

(399,039)

(221,608)

80.07%

Profit before taxation

1,337,999

983,891

35.99%

Taxation

(30)

  

Profit for the year

1,337,969

983,891

35.99%

Earnings per share – basic and diluted (Rupees)

3.779

2.779

35.98%

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Posted on: 2019-10-23T17:21:00+05:00

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