Monday, January 18, 2021

NCPL profit down by 9% YoY

Featured

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac,...
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Nishat Chunian Power Limited (NCPL) announced its 3QFY19 financial result Tuesday where the company posted a profit after tax (PAT) of PKR 751mn (EPS: PKR 2.05), down by 9% YoY compared to PKR 830mn (EPS: PKR 2.26) during same period last year.

- Advertisement -

This takes 9MFY19 earnings to PKR 2,606mn (EPS: PKR 7.09) compared to PKR 2,575mn (EPS: PKR 7.01) SPLY. Along with the result, the company also announced a cash dividend of PKR 1.0/share.

During 3QFY19, net sales witnessed a decline of 25% YoY to PKR 2,837mn, which is majorly owing to 68% YoY decline in dispatches to 73 GWh.

However, furnace oil prices went up by 45% YoY. On QoQ basis, net sales have declined by 45% – again 37% lower dispatches remained the primary reason behind this decline.

Gross margins of the company witnessed an increase of 15pps YoY to 45% in 3QFY19, mainly due to 21% YoY PKR depreciation and lower load factor, we view.

Finance cost has witnessed an increase of 45% YoY to PKR 372mn due to higher reliance on short term borrowings and higher interest rates. As of Dec’18, the short term borrowings went up by 39% YoY to PKR 9.0bn.

- Advertisement -

The company announced a cash dividend of PKR 1.0/share.

- Advertisement -
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
- Advertisement -

Latest News

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

As You Likee: Express more, Create more with Likee’s In-App Features

The online short videos platform is rapidly becoming the content production application of choice for hundreds of thousands of Pakistanis to showcase their creativity,...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend the democracy of the United...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac, the Indonesian health minister said...

IFN declares SBP as top central bank for promoting Islamic finance

State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll...

Related News