Nishat Power Limited: performance and outlook

Business Recorder’s review of Nishat Power Limited (NPL) reports a return to profit in 2026, with net earnings of Rs2,482.575 million and earnings per share of Rs7.01, following a loss the year before. Sales rose 56.11 percent to Rs11,017.70 million as electricity production increased, although higher fuel costs cut gross profit by 48.15 percent. NPL also recorded Rs1,303.49 million as its share of profit from NexGen.

The latest quarter was more mixed: 1QFY27 sales climbed 393.16 percent to Rs8,246.113 million, but net profit fell 7.35 percent to Rs541.376 million. Receivables from the power purchaser increased from Rs6,541 million in June 2026 to Rs9,607 million in September, alongside a steep rise in finance costs and short-term borrowing. NPL’s capacity utilisation could rise amid restricted RLNG supplies, while the report flags lower capacity payments, circular debt, borrowing and fuel costs as pressures on profitability. Nishat Mills holds 51.0135 percent of NPL, which has also invested in Rafhan Maize Products and NexGen.