Engro Powergen Qadirpur Limited (EPQL) released it financial result for FY16 yesterday which showed a marginal decline in its bottomline as compared to the previous year. The company registered a 14 percent drop in revenue which could be attributed to a fall in the load factor which affected plant operations in 1HFY16.
The decrease in the load factor was due to NTDCs auto transformer issue which caught fire and went out of operation during the start of 2016. This meant the plant was on standby mode until the completion of transformer repair and resumed its normal operations from April 29, 2016 onwards according to the directors report.
The gross profit fell by 9 percent in FY16 whereas the gross profit margin was up 110 bps to 19.6 percent. EPQL saw a reduction in other expenses by almost half whereas the other income also got a significant boost. This coupled with an 18 percent decrease in finance cost as compared to the previous year resulted in a marginal decline in the companys after tax profit.
However, the net profit margin increased by almost 200 bps to 15.6 percent in FY16. Lastly the company announced a final cash dividend of Rs1.5 per share for FY16 in addition to the interim dividend paid during the year of the same amount.
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