Lahore: Some of the top cement producing companies have reported high profits in the first quarter of the current fiscal year, according to a news report published on October 27. Lucky Cement as well as Kohat Cement have posted recoveries and high profits after a subdued quarter under ongoing coronavirus pandemic.
According to details, Lucky Cement reported an after-tax profit of PKR 5.13 billion as against PKR 1.53 billion in the same quarter previously – a growth of nearly 236%. The earns per share for the company stood in the quarter came at PKR 13.45 as against PKR 3.93 in the same quarter for the previous year.
According to an expert, the higher earnings are a result of higher gross margins for Pakistan’s cement business, which have risen to 28%.
The Kohat Cement Company’s profits also rose nearly 475% in the first quarter year-on-year. The profits stood at PKR 507.1 million as against PKR 88.2 million in the same quarter for the previous year. The earning per share rose from PKR 0.44 (previous year) to PKR 2.52 this quarter.