Nishat Power posts 13.25pc growth in profits

KARACHI: Nishat Power Limited has announced a net profit of Rs914.789 million for the quarter ended December 31, 2018, which is 13.25 percent higher than the profit of Rs807.569 million recorded in the corresponding quarter last year.

The earnings per share (EPS) for the quarter under review clocked in at Rs2.584 as against Rs2.281 last year. The company did not announce any payouts along with the corporate announcement.

The sales revenue for the quarter ended December 31, 2018 stood at Rs3.071 billion, down 11.78 percent compared with the revenues of Rs3.48 billion in the corresponding quarter ended December 31, 2017.

Nishat Power Limited other income declined significantly to Rs2.142 million during the period under review as against income of Rs30.65 million last year, while Finance Cost increased to Rs226.4 million as against Rs175.97 million last year.

“Gross margins increased by 95bps to 28 percent in 1HFY19, mainly due to PKR depreciation. In 2QFY19, gross margins witnessed an increase of 936bps to 39 percent, lower load factor and PKR depreciation remained the major reason behind this improvement, we view,” Rao aamir at Arif Habib Limited said.

For the six month period ended December 31, 2018, Nishat Power posted a net profit of Rs1.898 billion translating into EPS of Rs5.362 as against profit of Rs1.66 billion and EPS of Rs4.71 in the corresponding period previous year. [the_ad id=”31605″]

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