NPL posted earnings of PKR 2.07/share in 2QFY16 Nishat Power Limited (NPL) announced its half-yearly results today, posting profit after tax (PAT) of PKR 734mn (EPS: PKR 2.07) during 2QFY16 (down 21% QoQ), taking the cumulative profitability for 1HFY16 to PKR 1,664mn (EPS: PKR 4.70), down 13% YoY. Along with the results, the company also announced an interim cash dividend of PKR 2.0/share (cumulative dividend thus far: PKR 3.0/share).

Result Highlights

The company recorded net sales of PKR 3,962mn during 2QFY16, down 13% QoQ, on the back of 13.5% QoQ drop in Furnace oil prices.

Total electricity generation clocked-in at 370 GWh during the period under review, up 11.3% QoQ.

While gross margins dipped down by 181bps to 25.1% in the current quarter, attributable to mainly higher O&M expenses.