Saif Power Q3 profit falls 25%
MG News | October 29, 2024 at 03:15 PM GMT+05:00
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 | 165,596.07 264.75M | -0.54% -902.76 |
| ALLSHR | 100,017.71 623.24M | -0.46% -463.69 |
| KSE30 | 49,464.92 86.97M | -0.60% -299.08 |
| KMI30 | 238,952.40 97.00M | -0.58% -1388.16 |
| KMIALLSHR | 65,314.16 323.73M | -0.44% -285.47 |
| BKTi | 44,788.98 46.84M | -0.77% -347.65 |
| OGTi | 35,107.09 7.04M | -0.41% -145.22 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 79,165.00 | 81,895.00 78,675.00 | -2455.00 -3.01% |
| BRENT CRUDE | 109.47 | 109.75 106.26 | 3.75 3.55% |
| RICHARDS BAY COAL MONTHLY | 110.00 | 0.00 0.00 | -2.95 -2.61% |
| ROTTERDAM COAL MONTHLY | 109.00 | 109.00 108.75 | 1.25 1.16% |
| USD RBD PALM OLEIN | 1,191.50 | 1,191.50 1,191.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 101.16 | 101.57 97.23 | 4.24 4.37% |
| SUGAR #11 WORLD | 14.78 | 15.07 14.67 | -0.21 -1.40% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Savings Mobilized by National Savings Schemes
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|