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	188,202.86 341.59M	-0.20% -384.80
ALLSHR	112,423.22 745.46M	-0.07% -79.96
KSE30	57,956.48 141.89M	-0.12% -70.41
KMI30	267,375.33 135.18M	-0.39% -1043.48
KMIALLSHR	72,363.20 391.84M	-0.20% -146.78
BKTi	53,485.97 53.11M	0.26% 139.85
OGTi	38,916.61 17.01M	0.72% 278.13

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	88,390.00	88,985.00 87,470.00	805.00 0.92%
BRENT CRUDE	66.63	66.78 65.00	1.04 1.59%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.65 -2.96%
ROTTERDAM COAL MONTHLY	99.00	0.00 0.00	0.30 0.30%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	61.65	61.86 60.14	1.02 1.68%
SUGAR #11 WORLD	14.98	14.98 14.74	0.19 1.28%