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)|
|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%|
|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%|