Financial results of Nishat Power Limited for period ended June 30, 2016

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 26, 2016.

The agenda of the meeting was discussion of profit and loss account for the year ended June 30, 2016 which portrayed a profit of Rs. 2,851,065 with earnings per share 8.052 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 22, 2016 to October 29, 2016 (both days inclusive).

Nishat Power Limited is a public limited company incorporated in Pakistan in February 2007 under the Companies Ordinance, 1984. It is a subsidiary company 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 ISO in Jamber Kalan, Tehsil Pattoki, District Kasur, Punjab, Pakistan. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges in Pakistan. The registered office of the company is located in Lahore.

The company has a Power Purchase Agreement with its sole customer, National Transmission and Dispatch Company Limited for twenty five years which commenced from June 09, 2010.

The symbol “NPL” is being used by the stock exchanges for the shares of Nishat Power Limited.