Fauji Cement Achieves Rs. 5.3 Billion Profit in 6 Months

Fauji Cement Company Limited (PSX: FCCL) has disclosed its financial performance for the first six months of fiscal year 2024. Here’s a breakdown of the key figures:

  1. Profit After Tax (PAT): The company achieved a PAT of Rs5.27 billion during this period, resulting in earnings per share (EPS) of Rs2.15. Although profitable, this represents a slight decrease compared to the PAT of Rs5.08 billion (EPS: Rs2.25) reported in the corresponding period last year.
  2. Revenue: FCCL witnessed a notable increase in revenue, reaching Rs40.35 billion, up nearly 20% from Rs33.67 billion recorded in the previous year.
  3. Cost of Sales: Despite a 17.32% increase in the cost of sales, it did not escalate at the same rate as sales, resulting in a robust 25.59% increase in gross profit, which amounted to Rs12.86 billion.
  4. Gross Margins: Gross margins showed a slight improvement, rising to 31.87% from 30.41% in the same period last year.
  5. Other Income: Other income experienced a significant surge, reaching Rs199.94 million compared to Rs75.61 million in the previous year.
  6. Expenses: Selling and distribution expenses surged by 39.50%, while other expenses rose by 23.42% during this period.
  7. Net Finance Cost: The company faced a substantial increase in net finance costs, which rose by 3.15 times compared to the previous year, primarily due to higher interest rates.
  8. Taxes: FCCL paid Rs2.82 billion in taxes, marking a 28.17% increase from the amount paid in the corresponding period last year.

Overall, while FCCL demonstrated growth in revenue and gross profit, increased expenses and finance costs impacted the bottom line, resulting in a marginal decline in profitability compared to the previous year.

Leave a Reply

Your email address will not be published. Required fields are marked *