Hifsa Raja

The revenue of Kot Addu Power Company Limited climbed to Rs77 billion in the first nine months of the financial year ending March 31, 2022, from Rs45 billion over the corresponding period of the previous fiscal. The gross profit declined 67% to Rs5.42 billion in 9MFY22 from Rs16.37 billion in 9MFY21.

The before-tax profit dropped 50% to Rs11 billion from Rs22 billion over the corresponding period of FY21. The after-tax profit fell 48% to Rs8.22 billion in 9MFY22 from Rs15.92 billion in 9MFY21, reports WealthPK.

Performance in FY21

During the fiscal year 2020-21, the company’s revenue plunged to Rs50 billion from Rs71 billion in 2019-20, registering a decrease of 30%. 

The gross profit also dropped to Rs5.25 billion in FY21 from Rs21.47 billion in FY20, registering a decrease of 76%. 

The before-tax profit plummeted to Rs14.41 billion in FY21 from Rs32.95 billion in FY20, registering a decrease of 56%. 

The after-tax income for FY21 dropped to Rs10 billion, from Rs23 billion in FY20, posting a negative growth of 57%.

The company’s earnings per share steadily increased from 2016 to 2019, before taking a big leap in 2020. However, EPS plunged in 2021 and 2022.

Shareholdings

As of June 30, 2021, directors owned 0.0098% of the total shares of the company. Associated companies owned 45.73%. Banks, Development Financial Institutions, and Non-Banking Financial Institutions held 15.12%, insurance companies 2.06%, mutual funds 1.37%, general public (local) 23.68%, (foreign) 2.77%, “others” 3.58%, foreign companies 3.91% and approved funds owned 1.72%

The gross profit remained steady from 2016 to 2019. The profit rocketed in 2020, but plunged in 2021. Kot Addu Power Company Limited was incorporated in Pakistan on April 25, 1996 as a public limited company. The principal activities of the company are to own, operate and maintain a multi-fuel-fired power station with 15 generating units with a total capacity of 1,600MW in Kot Addu, Muzaffargarh district of Punjab.

Credit : Independent News Pakistan-WealthPk