LAHORE: Nishat Chunian Power Limited (NCPL) on Monday announced its financial result for FY18, posting a profit after tax of Rs3.406 billion, up by 14 percent year-on-year (YoY) against Rs3.0 billion in the same period last year (SPLY).
In the fourth quarter of FY18, earnings fell by 4 percent YoY to Rs831 million and it recorded net sales of Rs4,345 million during the aforementioned period, down by 4 percent YoY.
The decline in net sales was attributed to the lower level of dispatches, down 30 percent YoY, however, furnace oil had undergone an increase of 27 percent YoY.
According to Arif Habib Limited Research, fourth quarter FY18 gross margins dipped by 182 basis points YoY to 26 percent largely because of O&M expense.
Moreover, during FY18 its topline exhibited a rise of 3 percent YoY due to 21 percent YoY higher furnace oil prices, however, dispatches decreased by 17 percent YoY.
And gross margins experienced a rise of 121 basis points YoY to 28 percent and this increase was owed to 4.5 percent YoY depreciation in the rupee and lower load factor.
It’s earning per share was reported at Rs9.27 per share and it announced a cash dividend of Rs1.5 per share.
NCPL shares were trading at Rs24.0, down Rs0.66 (-2.68 percent). KSE-100 index was trading at 40,964.23 points, down 34.36 points (-0.08 percent) at the time of filing this report.
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