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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