ACPL's profits improve by 47% during 9MFY20

By MG News | April 23, 2020 at 02:14 PM GMT+05:00

0:00

April 23, 2020 (MLN): Attock Cement Pakistan Limited has announced the results for nine months period ended March 31, 2020, as per which, the company has earned profits of Rs. 2.03 billion, i.e. 47% higher than the earnings of the same period last year.

According to the research report by Arif Habib, the revenue of the company improved by 18% despite lower dispatches and dumping activity witnessed in the North by other cement players.

Moreover, the cost of sales increased by 15% due to the depreciation of the local currency, which negated the impact of lower coal prices.

However, the gross profits improved by 28% during the period as the company managed to maintain higher retention prices.

Another notable change witnessed during the period was the 61% decline in the income tax charge as compared to the same period of last year.

Financial Results for the nine months ended March 31, 2020 ('000 Rupees)
	Mar-20	Mar-19	% Change
Revenue	19,061,484	16,150,866	18.02%
Cost of Sales	(14,420,918)	(12,540,657)	14.99%
Gross Profit	4,640,566	3,610,209	28.54%
Distribution cost	(1,578,704)	(1,099,714)	43.56%
Administrative expenses	(407,045)	(379,981)	7.12%
Other expenses	(75,000)	(102,500)	-26.83%
Other income	63,076	163,137	-61.34%
Profit from operations	2,642,893	2,191,151	20.62%
Finance cost	(480,229)	(485,277)	-1.04%
Share of net income of associate accounted for using equity method	2,500
Profit before income tax	2,165,164	1,705,874	26.92%
Income tax credit/(expense)	(129,000)	(329,678)	-60.87%
Profit for the year	2,036,164	1,376,196	47.96%
Earnings per share - basic and diluted (Rupees)	14.82	10.10	46.73%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	130,943.15 50.42M	0.20% 256.49
ALLSHR	81,540.37 269.64M	0.29% 235.12
KSE30	40,031.77 25.36M	0.22% 86.32
KMI30	191,010.32 29.08M	0.16% 312.27
KMIALLSHR	55,110.29 131.30M	0.07% 36.14
BKTi	34,824.06 3.91M	0.74% 255.66
OGTi	28,567.04 2.38M	-0.60% -172.31

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,755.00	110,525.00 109,600.00	-660.00 -0.60%
BRENT CRUDE	68.63	68.89 68.42	-0.17 -0.25%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	-0.75 -0.76%
ROTTERDAM COAL MONTHLY	108.45	109.80 108.45	-0.55 -0.50%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.93	67.18 66.72	-0.07 -0.10%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%