Nishat Chunian Power Limited (PSX: NCPL) posted its result on Friday for 1HFY17 which showed a decline in the bottomline on the back of low revenues. The topline registered a decrease of 11 percent which could be attributable to lower power despatches during the period as compared to 1HFY16. Consequently fuel savings also saw a dip even though oil prices have recovered almost 27 percent on a year-on-year basis which ultimately led to the gross profit declining by 16 percent in 1HFY17.
The other income of the company showed an increase of 56 percent whereas the finance cost was reduced by 16 percent as compared to 1HFY16. This led to some support to the bottomline but profit after tax still declined 17 percent on a year-on-year basis with both the gross and net margin also taking a dip. Resultantly, the EPS declined from Rs4.53 in 1HFY16 to Rs3.76 for the period under review. Surprisingly NCPL did not announce a cash dividend for 2QFY17 which means the pay-out for 1HFY17 stands at Rs1.5 per share.
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