Nishat Mills Limited (NML): 9MFY18 EPS clocks in at Rs7.86, down 10% YoY – By JS Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The Board of Directors of Nishat Mills Limited (NML) announced the company&amp;rsquo;s results for 9MFY18 today, where earnings clocked in at Rs2.77bn (EPS: Rs7.86), down 10% YoY from Rs3.09bn (EPS: Rs8.78) in 9MFY17. For 3QFY18, earnings fell 82% YoY to Rs97mn (EPS: Rs0.28), compared to Rs538mn (EPS: Rs1.53) in 3QFY17. </span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">While Net Sales dropped 1% YoY during the quarter, Cost of Sales rose by 2% YoY, probably owing to rising raw material and fuel prices, resulting in Gross Margins plummeting by 254bps YoY to 9.2%. Other Income fell 42% YoY, which we believe is due to absence of Dividend Income in the quarter. Sequentially, earnings fell by 95% YoY, on account of 91% YoY lo...