Karachi, Nishat Chunian Power Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 27, 2020.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a profit of Rs. 1,029,945 with earnings per share 2.80 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Nishat Chunian Power Limited is a public limited company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The company started its commercial operations on July 21, 2010. The company is a subsidiary of Nishat (Chunian) 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 and net capacity of 195.722 MW at District Kasur, Punjab. The company has a Power Purchase Agreement with its sole customer, National Transmission and Despatch Company Limited for twenty five years which commenced from July 21, 2010. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located at Lahore.
The plant is combined cycle with 11 reciprocating engines and a heat recovery steam turbine. Net output of the project is 195.722 MWh. The primary fuel of the plant is Residual Furnace Oil. NCPL is an active member of Independent Power Producers Advisory Council.
The symbol “NCPL” is being used by the stock exchanges for the shares of Nishat Chunian Power Limited.