Pakgen Power Ltd’s earnings shoot up by 70% during 1HCY20

August 18, 2020 (MLN): Pakgen Power Limited company has announced the results for the half-year ended June 30, 2020, wherein the company has earned profits of Rs. 2.25 billion (EPS: 6.06), i.e. around 70% higher than the bottom-line income of the same period last year.

Even though the revenue of the company fell by 26%, the decline in the cost of sales by 58% helped in lifting the gross profits by almost 51%.

However, the company suffered some setbacks in the form of an increase in Administrative expense and non-core expense by 51% and 21% respectively, which was coupled with a decline in other income by 50%.

There was a minimal change of 4% in finance costs, whereas no income tax was paid during the period.

Financial Results for the half-year ended June 30, 2020 (Rupees'000)

 

Jun-20

Jun-19

% Change

Sales

4,993,768

6,734,197

-25.8%

Cost of sales

(1,976,245)

(4,733,475)

-58.2%

Gross Profit

3,017,523

2,000,722

50.8%

Administrative expenses

(114,741)

(94,907)

20.9%

Other expenses

(1,295)

(1,388)

-6.7%

Other income

38,297

77,439

-50.5%

Finance cost

(683,311)

(657,958)

3.9%

Profit before taxation

2,256,473

1,323,908

70.4%

Taxation

 

Profit after taxation

2,256,473

1,323,908

70.4%

Earnings per share

6.06

3.56

70.2%

 

Copyright Mettis Link News

Posted on: 2020-08-18T15:40:00+05:00

36388