Nishat Chunian’s annual profit up 40 percent

KARACHI: Profit of Nishat Chunian Limited (NCL) surged 40 percent to Rs5.471 billion for the year ended June 30, translating into earnings per share (EPS) of Rs15.84, a bourse filing said on Tuesday.

Nishat Chunian’s profit amounted to Rs3.918 billion with EPS of Rs10.21 a year earlier, a statement to Pakistan Stock Exchange said. The company announced cash dividend of Rs4/share for the year ended June 30.

Nishat Chunian’s revenue increased to Rs53.033 billion in the July-June from Rs46.491 billion a year ago. Cost of sales also increased to Rs43.746 billion compared to Rs38.766 billion. The PSX statement said distribution cost rose to Rs968.232 million in FY2018 compared to Rs895.297 million in FY2017.

NCL’s financial cost also increased to Rs2.712 billion in FY2018 as against Rs2.245 billion in FY2017. Profit before taxation clocked in at Rs5.84 billion in FY2018 compared to Rs4.107 billion in FY2017. Taxation during the year amounted to Rs369.49 million compared to Rs188.551 million.