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Business
February 13, 2021
KARACHI: Nishat Power Limited (NPL) on Friday said its profit for the quarter ended on December 21, 2020 plunged 52.9 percent to Rs545.85 million (EPS: Rs1.542).
The power producers had earned a net profit of Rs1.158 billion (EPS: Rs3.272) recorded in the corresponding period of the previous year.
“The decline in revenues and earnings can be attributed to absence of debt portion, lower furnace oil prices and 3.5 percent lower dispatches compared with same period last year,” Rao Aamir Ali at Arif Habib Limited said.
The company did not announce any payouts along with the corporate results.
NPL recorded sales of Rs1.289 billion during the quarter under review, down 44.17 percent compared with the sales revenue of Rs2.309 billion recorded in the quarter ended December 31, 2019.