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

MG News | October 23, 2019 at 05:21 PM GMT+05:00

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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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