Tuesday, August 9, 2022

FCCL earnings up by 24 percent YoY


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com

Fauji Cement Company Limited (FCCL) announced its 2QFY19 financial result, posting a profit after tax (PAT) of PKR 1,023mn (EPS: PKR 0.74), up by 24% YoY as compared to a bottom-line of PKR 824mn (EPS: PKR 0.60) during SPLY. Alongside this, the company announced a dividend of PKR 0.75/share.

FCCL’s topline witnessed a dip of 7% YoY to PKR 5.1bn during 2QFY19 amid 15% decline in total offtake (0.77mn tons vis-à-vis 0.90mn tons), with drop in local offtake of 11% to 0.71mn tons.

Gross margins of the company widened by ~6ppts in 2QFY19 to 32% (2QFY18: 26%) given operationalisation of Line-II throughout the quarter vs. 2QFY18, tagged with higher retention prices.

Distribution costs exhibited a dip of 36% YoY to PKR 51mn amid 44% cut in exports.

The company booked effective taxation during the period under review at 29% vs. 28% in 2QFY18.

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