ACPL's net income declines by 37% YoY owing to dip in offtakes

MG News | April 22, 2022 at 10:33 AM GMT+05:00
April 22, 2022 (MLN): Attock Cement Pakistan Limited (ACPL) witnessed a 37% YoY decline in its consolidated net profits to Rs1.25 billion (EPS: Rs7.88) during the nine months ended March 31, 2021, against the net profit of Rs1.99bn (EPS: Rs11.51) earned in the same period last fiscal year.
This drop in profitability was mainly due to the decline in offtake which translated to a revenue dip of 4.3% YoY.
Meanwhile, PKR depreciation, augmented coal prices, and higher electricity tariffs also put pressure on margins which nosedived from 26% to 18% during 9MFY22 despite higher retention prices.
However, a reduction in distribution expenses by 33% YoY due to decline in exports, admin costs by 18% YoY and financial charges by 67.4% YoY, provided some cushion to the net income of the company.
Notably, the other positive highlight is a 5.3x YoY increase in other income to Rs337.4mn during the period under review.
On the taxation front, the effective tax rate of the company for the period stands at 36% compared to 17% in the corresponding period last year.
Consolidated Financial Results for the nine months ended March 31, 2022 ('000 Rupees) |
|||
---|---|---|---|
|
Mar-22 |
Mar-21 |
% Change |
Revenue |
21,187,166 |
22,137,583 |
-4.29% |
Cost of Sales |
(17,348,378) |
(16,418,255) |
5.67% |
Gross Profit |
3,838,788 |
5,719,328 |
-32.88% |
Distribution cost |
(1,299,225) |
(1,941,255) |
-33.07% |
Administrative expenses |
(618,229) |
(753,767) |
-17.98% |
Other expenses |
(109,000) |
(86,000) |
26.74% |
Other income |
337,429 |
62,884 |
436.59% |
Profit from operations |
2,149,763 |
3,001,190 |
-28.37% |
Finance cost |
(190,775) |
(585,314) |
-67.41% |
Share of net income of associate accounted for using the equity method |
2,820 |
2,985 |
-5.53% |
Profit before income tax |
1,961,808 |
2,418,861 |
-18.90% |
Income tax credit/(expense) |
(708,000) |
(422,000) |
67.77% |
Profit for the year |
1,253,808 |
1,996,861 |
-37.21% |
Earnings per share - basic and diluted (Rupees) |
7.88 |
11.51 |
-31.54% |
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 137,537.33 38.49M |
0.76% 1034.80 |
ALLSHR | 85,682.07 123.05M |
0.71% 602.17 |
KSE30 | 41,859.82 9.85M |
0.74% 307.20 |
KMI30 | 193,398.24 4.35M |
0.03% 67.48 |
KMIALLSHR | 56,391.74 51.96M |
0.14% 76.43 |
BKTi | 39,264.11 8.09M |
1.99% 766.03 |
OGTi | 28,185.18 0.39M |
0.17% 46.80 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,770.00 | 120,695.00 116,740.00 |
-2465.00 -2.05% |
BRENT CRUDE | 68.87 | 69.17 68.85 |
-0.34 -0.49% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
0.25 0.26% |
ROTTERDAM COAL MONTHLY | 106.50 | 106.60 106.50 |
-2.20 -2.02% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 66.58 | 66.99 66.55 |
-0.40 -0.60% |
SUGAR #11 WORLD | 16.31 | 16.67 16.27 |
-0.26 -1.57% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|