Financial results of Nishat Power Limited for Year ended June 30, 2021

Karachi, Nishat Power Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on September 16, 2021.

The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for Year ended June 30, 2021 which portrayed a profit of Rs. 2,681,134 and Rs. 2,680,319 with earnings per share 7.572 and 7.570 basic and diluted respectively.

Further, 15% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 20, 2021 to October 27, 2021 (both days inclusive).

Nishat Power Limited is a public company limited by shares incorporated in Pakistan on February 23, 2007. The company is a subsidiary of Nishat Mills Limited. The principal activity of the company is to build, own, operate and maintain a fuel fired power station having gross capacity of 200 MW in Jamber Kalan, Tehsil Pattoki, District Kasur, and Punjab, Pakistan. The company has a Power Purchase Agreement (‘PPA’) with its sole customer, National Transmission and Despatch Company Limited (‘NTDC’) for twenty five years which commenced from June 09, 2010.

The total number of shares are 354,088,500. The Earnings per shares is 13.96 in 2020 which was 10.56 in 2019. The Profit After Taxation is 4,942,595,000 in 2020 which was 3,769,549,000 in 2019.