KARACHI: Kot Addu Power Company Limited’s (Kapco) profit increased 19.5% to Rs2.21 billion in the quarter ended December 31, mainly due to increased sales, according to a notice sent to the Pakistan Stock Exchange (PSX) on Friday.
In the same quarter (October-December) in 2017, the company booked a profit of Rs1.85 billion.
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This translated into earnings per share (EPS) of Rs2.52 in the quarter compared to Rs2.11 in the corresponding period of the previous year. The board of directors has recommended an interim cash dividend of Rs4.35 per share, which will be paid to the shareholders whose names will appear in the register of members on April 10, 2018.
Kapco’s share price increased 1.33%, or Rs0.78, and closed at Rs59.33 with 1.42 million shares changing hands at the PSX.
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The company’s sales increased 21% to Rs18.44 billion from Rs15.19 billion.
The growth in sales was seen “owing to a 21% year-on-year rise in furnace oil prices, higher load factor of 55% and 2% rupee depreciation,” IGI Securities said in a post-result comment. Other income increased 29% to Rs1.58 billion compared to Rs1.22 billion.
Published in The Express Tribune, February 24th, 2018.
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