KARACHI: After a delay of greater than 9 months, Okay-Electrical Ltd lastly launched its monetary outcomes for 2015-sixteen on Wednesday.
It posted a revenue of Rs32.eight billion (earnings per share: Rs1.19), reflecting sixteen per cent progress over the revenue of Rs28.3bn in 2014-15.
Its share worth rose by 9 paisa to Rs6.87 on buying and selling in 15 million shares.
Internet gross sales remained regular at round Rs190bn for each years. However there was a noticeable decline in the price of gross sales, which dropped 11pc to Rs132bn. This helped carry gross revenue by 34pc to Rs58bn.
The prepayment of costly lengthy-time period financing and decline in working capital necessities because of decrease furnace oil costs helped the corporate scale back monetary costs by 48pc to Rs5.1bn.
Power-sector analysts stated the April-June quarterly outcomes have been in keeping with their expectations. Analyst Rai Omar Basharat at Topline Securities said that the quarterly revenue amounted to Rs10bn, down 17pc yr-on-yr.
Within the fourth quarter, the corporate’s prime line grew 11pc to Rs56.5bn on the again of upper despatched-out models owing to hotter climate. It led to receipt of upper tariff adjustment funds.
Gross revenue in April-June improved 12.7 proportion factors to 35pc. The development was attributed to larger self-era of electrical energy, resulting in decrease electrical energy buy from costlier exterior sources and better thermal effectivity.
The corporate’s sponsors, Abraaj Capital, stay in protracted talks for the sale of shares and administration management to Shanghai Energy of China.
Revealed in Daybreak, August tenth, 2017
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