ACPL posts 7% YoY decline in net profitability during FY21

News Image

MG News | August 12, 2021 at 12:32 AM GMT+05:00

0:00

August 11, 2021 (MLN): Attock Cement Pakistan Limited (ACPL), has posted a 7% YoY decline in net profits to Rs2.38 billion for FY21 as opposed to the profits of Rs2.56bn in the previous fiscal year.

The earnings per share of the company also exhibited a decline from Rs14.43 to Rs13.61.

The YoY decline in profitability is attributable to depressed gross level performance where the main culprits were higher coal prices and the inability to timely pass on the coal price hike’s impact by players in the Southern region.

During the year, the company’s topline growth arrived at 19.4% YoY to Rs28.6bn supported by a turnaround in retention prices coupled with a 12% YoY improvement in dispatches to 3,276k tons compared to 2,924k tons in FY21. The gross margins of ACPL dipped by 2ppts YoY to 22% in FY21 as higher coal prices and electricity tariff counterbalanced the impact recovery in local retention prices as well as PKR appreciation, a report by Arif Habib cited.

With regards to ACPL’s major expense heads, its Admin cost soared by 27.4%, while its distribution cost swelled by 21.47% YoY, mainly attributable to a rise in dispatches and increase export volumes during the period. Moreover, Financial charges increased by 37.3% YoY to Rs722.9mn.

The company booked effective taxation at 15% compared to 14% in FY20.

Consolidated Financial Results for the Year ended June 30, 2021 ('000 Rupees)

 

Jun-21

Jun-20

% Change

Revenue

28,601,617

23,948,118

19.43%

Cost of Sales

(22,169,442)

(18,107,543)

22.43%

Gross Profit

6,432,175

5,840,575

10.13%

Distribution cost

(2,235,568)

(1,840,494)

21.47%

Administrative expenses

(690,932)

(542,149)

27.44%

Other expenses

(114,129)

(92,274)

23.68%

Other income

136,871

146,878

-6.81%

Profit from operations

3,528,417

3,512,536

0.45%

Finance cost

(722,911)

(526,358)

37.34%

Share of net income of associate accounted for using equity method

5,654

5,923

-4.54%

Profit before income tax

2,811,160

2,992,101

-6.05%

Income tax credit/(expense)

(432,562)

(425,000)

1.78%

Profit for the year

2,378,598

2,567,101

-7.34%

Earnings per share - basic and diluted (Rupees)

13.61

14.43

-5.68%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,865.00 120,695.00
116,090.00
-3370.00
-2.80%
BRENT CRUDE 68.81 69.41
68.60
-0.40
-0.58%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.67 67.13
66.22
-0.31
-0.46%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg