Kot Addu Power Company Limited (KAPCO) has announced its half-year FY2021 Financial results where its net profits stood at PKR 11.4 billion (EPS: 13.06) marking a 2% decline as compared to the earnings of the same period last year.
Sales Revenue of the company declined by 23% on account of lower Power dispatches of 1,991 GWh in 1HFY21 as compared to , 2,277 GWh in same period last year.
KAPCO’s cost of sales also declined by 34% owing to lower production. KAPCO also witnessed a 37% decline in its non-core income owing to lower interest income and lower receivables.
KAPCO’s finance cost also declined by 66% amid decline in interest rates on its short term borrowing.
| Rupees in ‘000 | Dec-20 | Dec-19 | % Change |
| Sales Revenue | 34,076,139 | 44,469,422 | -23% |
| Cost of Sales | (22,685,678) | (34,363,914) | -34% |
| Gross profit | 11,390,461 | 10,105,508 | 13% |
| Administrative expenses | (663,787) | (472,844) | 40% |
| Other income | 7,099,471 | 11,335,967 | -37% |
| Finance cost | (1,628,668) | (4,758,030) | -66% |
| Profit before taxation | 16,197,477 | 16,210,601 | 0% |
| Tax | (4,699,485) | (4,483,594) | 5% |
| Net Profit | 11,497,992 | 11,727,007 | -2% |
| Earnings per share | 13 | 13 | -2% |
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