Nishat Power’s quarterly profit jumps 62%

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KARACHI: Nishat Power Limited on Friday reported a 62% increase in net profit for the quarter ended March 31 on the back of an increase in net sales.

In a consolidated statement to the Pakistan Stock Exchange (PSX), the company reported a net profit of 1.140 billion rupees for the third quarter of this financial year, compared to 705.878 million rupees the previous year.

The company skipped any dividend for this period.

Earnings per share (EPS) stood at Rs3.22/share, compared to Rs1.99/share last year.

The company said its sales for the quarter reached 4.432 billion rupees from 2.471 billion rupees a year earlier. The cost of sales also increased from 1.649 billion rupees to 3.183 billion rupees.

Nishat Power’s other income fell to 17.026 million rupees during the period from 36.816 million rupees recorded during the same period last year.

For the nine months ended March 31, the company reported net profit of Rs2.801, up from Rs2.183 billion recorded in the corresponding period last year. EPS for the 9 month period remained at Rs7.91/share vs. Rs6.16/share.

Kapco profit down 41%

Kot Addu Power Company Limited (Kapco) announced a 41% drop in its quarterly net profit due to an increase in its cost of sales.

In a statement to PSX, the company announced a net profit of 2.619 billion rupees for the quarter ended March 31, compared to 4.429 billion rupees the previous year.

The company did not announce any dividend for the period. Earnings per share came in at Rs2.98/share, down from Rs5.03/share in the same period last year.

Kapco said its sales for the quarter reached 23.356 billion rupees, up from 11.564 billion rupees a year earlier. However, the cost of sales increased significantly from 6.581 billion rupees to 21.065 billion rupees, which reduced profit margins.

For the nine months ended March 31, the company announced a profit of Rs8.227 billion against Rs15.927 billion. During this period, EPS was recorded at Rs9.35 against Rs18.09 per share recorded a year ago.

FFBL profits up 28%

Fauji Fertilizer Bin Qasim Limited (FFBL) reported a 28% increase in profit in the quarter due to increased sales.

In an interim consolidated statement to PSX, the company reported net profit of 1.626 billion rupees for the quarter ended March 31, compared to 1.266 billion rupees in the same period a year earlier.

The company did not announce any dividends during this period.

Earnings per share were Rs 1.26 compared to Rs 0.98 per share last year. The company said its net sales for the year rose to 24.783 billion rupees from 13.005 billion rupees a year earlier. The cost of sales remained at Rs19.394 billion against Rs10.527 billion.

FFBL reported other income at 1.115 billion rupees against 1.565 billion rupees recorded during the same period last year.

51% increase in the benefit of Fatima Fertilizer

Fatima Fertilizer Company Limited reported a 51% increase in quarterly net profit, due to an increase in net sales.

In its statement to PSX, the company announced a net profit of 5.690 billion rupees for the quarter ended March 31, compared to 3.772 billion rupees the previous year.

The company skipped any dividend for this period. Earnings per share stood at Rs2.71/share, compared to Rs1.80/share last year.

The company said its sales for the quarter reached 29.114 billion rupees from 21.603 billion rupees a year earlier. The cost of sales also increased from 9.264 billion rupees to 12.250 billion rupees.

The company’s other income reached 340.305 million rupees during this period, compared to 98.494 million rupees recorded during the same period last year.

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