Saif Power Limited’s profits for the half year ended June 30, 2018 rose by 14% as the company reported a profit of Rs 1.508 billion this year, compared to a profit of Rs 1.322 billion last year as at June 30, 2017.
While the company’s turnover increase by about 18.72% over the year, its cost of sales rose by 20.18%. Gross profit rose by 13.76% as at June 30, 2018.
On the expenses front, the company managed to reduce its administrative expenses by about 9% but finance costs for the firm surged by 17%. In addition to that, income from other sources fell by close to 75% this year.
The company also declared an EPS of Rs 3.90 for the half year ended on June 30, 2018, a 14% growth over the Rs 3.42 EPS declared a year ago for up to June 30, 2017.
| Financial results for the half year ended June 30th 2018 (Rupees) |
| | Jun-18 | Jun-17 | % Change |
| Turnover - net | 9,050,398,716 | 7,623,582,204 | 18.72% |
| Cost of sales | (7,076,293,939) | (5,888,264,615) | 20.18% |
| Gross profit | 1,974,104,777 | 1,735,317,589 | 13.76% |
| Administrative expenses | (72,205,211) | (79,304,217) | -8.95% |
| Finance cost | (393,853,822) | (336,167,691) | 17.16% |
| Other income | 745,653 | 2,847,931 | -73.82% |
| Profit for the period | 1,508,791,397 | 1,322,693,612 | 14.07% |
| Earnings per share - basic and diluted | 3.90 | 3.42 | 14.04% |
MPC Decision