October 21, 2020 (MLN): Attock Cement Pakistan Limited has earned profits of Rs. 691.7 million for the quarter ended September 30, 2020, i.e. around 64% higher as compared to the earnings of the same period last year.

The earnings per share for the period stood at Rs. 3.37, i.e. only 17% higher than the EPS recorded in the same period last year.

The growth in earnings was mainly led by an increase in revenues by 36%, as it helped in lifting the gross profits by 25%. The company suffered some setbacks too in the form of an increase in major expense heads i.e. Distribution and Administrative costs by 30% and 59%, respectively.

While there was a 19% decline in other income, the decline in non-core expenses by 58% provided respite to the company.

Further relief was drawn from a 44% decline in Finance costs and a 45% decline in income tax expense.

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