KARACHI: The profit of Nishat Power Limited (NPL) showed a growth of 37 per cent year-on-year to Rs745 million translating into the earnings per share of Rs2.10 during the second quarter of fiscal year 2022.

The company posted a profit of Rs554 million translating into the earnings per share (EPS) of Rs1.54 during the same period of fiscal year 2021.

This takes the profitability of the company to Rs1.660 billion translating into the EPS of Rs4.69 during the first half of fiscal year 2022, up 12 per cent on a year-on-year basis.

The company, along with the results announced a cash dividend of Rs2/share.

During the second quarter of fiscal year 2022, the net sales of the company witnessed an increase of 221 per cent on a year-on-year basis to Rs4.142 billion due a growth of 884 per cent in dispatches on a year-on-year basis.

The increase of 75 per cent in higher furnace oil prices on a year-on-year basis also contributed to the increased sales of the company.

The sales of the company, during the first half of fiscal year 2022 also increased 83 per cent on a year-on-year basis due to the above mentioned reasons.

The gross margins of the company during the second quarter of fiscal year 2022 dipped 32pps on a year-on-year basis due to higher dispatches which were up 884 per cent on a year-on-year basis to 147GWh.

Nishat’s finance cost increased 2 per cent on a year-on-year basis and 10 per cent on quarter-on-quarter basis during the second quarter of fiscal year 2022 due to higher interest rates.