Saif Power Q3 profit falls 25%

MG News | October 29, 2024 at 03:15 PM GMT+05:00

0:00

October 29, 2024 (MLN): Saif Power Limited (PSX: SPWL) recorded a profit after tax of Rs535.37 million [EPS: Rs1.39] during the quarter ending September 2024, down 25.3% from the profit of Rs717.09m [EPS: Rs1.86] in the same period last year (SPLY).

The company's revenue went down by 39.2% to Rs4.49bn as compared to Rs7.39bn in SPLY.

The cost of sales fell by 39.8% but was higher than proportionate to sales decline, which worsened the gross profit by 36.6% to Rs877.6m in Q3 CY24.

The gross margins improved to 19.5% as compared to 18.7% in SPLY.

On the expense side, the company's administrative expenses rose 56.5% from a year ago to Rs92.59m, selling and distribution expenses rose to Rs0m, and other operating expenses rose to Rs0m.

The company’s finance cost deflated by 80.2% and stood at Rs120.96m as compared to Rs609.32m in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	4,492,067	7,392,666	-39.24%
Cost of sales	(3,614,469)	(6,008,579)	-39.84%
Gross Profit/ (loss)	877,598	1,384,087	-36.59%
Administrative Expenses	(92,586)	(59,176)	56.46%
Other Income	(128,679)	1,497	-
Finance Cost	(120,959)	(609,319)	-80.15%
Net profit/ (loss) for the period	535,373	717,090	-25.34%
Basic earnings/ (loss) per share	1.39	1.86	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	150,398.71 270.15M	-1.06% -1612.55
ALLSHR	90,084.08 469.39M	-0.93% -849.88
KSE30	45,453.36 99.47M	-1.14% -522.50
KMI30	218,271.12 195.05M	-0.92% -2019.44
KMIALLSHR	58,965.48 294.49M	-0.81% -483.69
BKTi	41,775.34 33.94M	-0.76% -317.96
OGTi	31,328.42 11.96M	-0.61% -192.61

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,165.00	67,625.00 66,480.00	-15.00 -0.02%
BRENT CRUDE	109.24	109.74 99.08	8.08 7.99%
RICHARDS BAY COAL MONTHLY	112.50	0.00 0.00	6.40 6.03%
ROTTERDAM COAL MONTHLY	113.00	114.50 113.00	-0.40 -0.35%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	112.06	113.97 97.50	11.94 11.93%
SUGAR #11 WORLD	14.96	15.50 14.91	-0.33 -2.16%