Saif Power Limited half year bottom line surges 14 percent

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-18Jun-17% Change
Turnover – net 9,050,398,716 7,623,582,20418.72%
Cost of sales (7,076,293,939) (5,888,264,615)20.18%
Gross profit 1,974,104,777 1,735,317,58913.76%
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 1,322,693,61214.07%
Earnings per share – basic and diluted 3.90 3.4214.04%
Posted on: 2018-08-29T14:10:00+05:00

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