PPL Corporation (PPL) has reported a 16.54 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $465 million, or $0.68 a share in the quarter, compared with $399 million, or $0.59 a share for the same period last year.
Revenue during the quarter went up marginally by 2.92 percent to $1,832 million from $1,780 million in the previous year period. Gross margin for the quarter expanded 512 basis points over the previous year period to 55.68 percent. Total expenses were 61.03 percent of quarterly revenues, down from 65.34 percent for the same period last year. This has led to an improvement of 431 basis points in operating margin to 38.97 percent.
Operating income for the quarter was $714 million, compared with $617 million in the previous year period.
"The past year demonstrated the strength of our diverse portfolio of regulated utilities as our U.S. and U.K. companies all delivered or exceeded expected results," said William H. Spence, PPL's chairman, president and chief executive officer.
Operating cash flow improves
PPL Corporation has generated cash of $2,890 million from operating activities during the year, up 10.52 percent or $275 million, when compared with the last year.
The company has spent $2,918 million cash to meet investing activities during the year as against cash outgo of $3,588 million in the last year.
The company has spent $439 million cash to carry out financing activities during the year as against cash inflow of $68 million in the last year period.
Cash and cash equivalents stood at $341 million as on Dec. 31, 2016, down 59.21 percent or $495 million from $836 million on Dec. 31, 2015.
Debt comes down marginally
PPL Corporation has recorded a decline in total debt over the last one year. It stood at $19,249 million as on Dec. 31, 2016, down 3.58 percent or $715 million from $19,964 million on Dec. 31, 2015. Total debt was 50.24 percent of total assets as on Dec. 31, 2016, compared with 50.80 percent on Dec. 31, 2015. Debt to equity ratio was at 1.94 as on Dec. 31, 2016, down from 2.01 as on Dec. 31, 2015. Interest coverage ratio improved to 3.29 for the quarter from 2.73 for the same period last year.
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