Pakgen Power Ltd market value rises 25% in CY22

January 20, 2023

Fakiha Tariq

Pakgen Power Limited’s market value rose by 25% during the Calendar Year 2022 (Jan 22 to Dec 22) despite market slump, reports WealthPK. The company reported a market value of Rs8.9 billion on the first day of trading in CY22 and Rs11 billion on the last trading day.

The company trades under the symbol of “PKGP” on PSX in the power generation and distribution sector. Established in 1995, the main activity of the company is to maintain a 365MW oil-based power station. With a market capitalisation of Rs10.8 billion, PKGP is the fourth largest company in the power generation and distribution sector. Bearing a market value loss during the first three quarters of CY22 consecutively, the company summed up a massive market value raise of 66% in the last quarter of trade from Oct 22 to Dec 22.

In the first quarter (Jan to Mar) of CY22, PKGP’s market value declined by 16% from Rs8.9 billion to Rs7.5 billion. In the second quarter (Apr to Jun) of CY22, the market value loss minimized to 8% compared to the previous quarter. In the third quarter (Jul to Sep), the market value loss further reduced to 6% from Rs6.6 billion to Rs6.2 billion.

In the first three quarters, the company collectively lost 30% of its market value from Rs8.9 billion to Rs6.2 billion. However, the company gained a massive increment of 66% from Rs6.7 billion to Rs11 billion in market value in the fourth and last quarter (Oct to Dec) of CY22.

Pakgen Power Limited – Quarterly Profitability CY22

The company reaped consecutive profits in the first three quarters of trade in CY22. On average, in the first three quarters of CY22, Pakgen Power earned a gross profit of 5.3% whereas the net profit ratio was reported to be 4.9%. Out of the first three quarters of CY22, the company performed best in the 1QCY23, with the highest gross profit ratio of 8.5%, highest net profit ratio of 9.04% and also the highest earnings per share value of Rs2.52.

However, in comparison to the nine-month performance of CY21, the company raised its sales from Rs16 billion to Rs43 billion and the net profit ratio from 2.3% to 4.31% in 9MCY22.

Credit : Independent News Pakistan-WealthPk