Bestway Cement reports around 70% increase in profit after tax

MG News | April 17, 2025 at 10:08 AM GMT+05:00
April 17, 2025 (MLN): Bestway Cement Limited (PSX: BWCL) reported a profit after tax of Rs17.54 billion [EPS: Rs29.42] for the nine-month period ended March 31, 2025, marking a robust 69.98% increase compared to Rs10.32bn [EPS: Rs17.31] in the same period last year.
The company has declared an interim cash dividend of Rs8 per share (80%).
The company’s gross turnover grew by 14.01% year-on-year (YoY) to Rs127.82bn, up from Rs112.12bn in the corresponding period of 2024.
Despite a 40.45% YoY increase in sales tax and excise duty to Rs41.38bn, and a 71.57% surge in rebates and discounts, the net turnover still increased by 2.42% YoY to Rs82bn.
Cost of sales declined by 5.11% YoY to Rs53.52bn, resulting in a 20.35% increase in gross profit to Rs28.48bn.
On the expense side, selling and distribution costs rose by 26.52% to Rs1.26bn, administrative expenses grew by 32.96% to Rs1.42bn, and other operating expenses surged by 57.58% to Rs1.34bn.
Despite the rise in expenses, the company operating profit stood at Rs24.46bn, showing a 17.88% YoY increase.
Other income soared by 139.40% to Rs1.37 billion, while finance costs fell by 26.42% YoY to Rs6.3bn.
The share of profit from equity-accounted investees also more than doubled, rising by 113.11% YoY to Rs7.49bn.
Consequently, the company’s profit before tax climbed 66.02% YoY to Rs27.02bn.
Income tax expense also rose by 59.16% YoY to Rs9.48bn.
Financial Results for the Period Ended March 31, 2025 (Rupees '000) | |||
Description | Mar-25 | Mar-24 | %Change |
Gross turnover | 127,824,429 | 112,118,651 | 14.01% |
Less: rebates and discounts | (4,443,707) | (2,590,071) | 71.57% |
Less: sales tax and excise duty | (41,381,244) | (29,464,162) | 40.45% |
Net turnover | 81,999,478 | 80,064,418 | 2.42% |
Cost of sales | (53,520,356) | (56,400,602) | -5.11% |
Gross profit | 28,479,122 | 23,663,816 | 20.35% |
Selling and distribution expenses | (1,256,264) | (992,955) | 26.52% |
Administrative expenses | (1,419,272) | (1,067,409) | 32.96% |
Other operating expenses | (1,343,355) | (852,506) | 57.58% |
Operating profit | 24,460,231 | 20,750,946 | 17.88% |
Other income - net | 1,369,212 | 571,938 | 139.40% |
Finance cost | (6,299,885) | (8,562,170) | -26.42% |
Share of profit of equity-accounted investees - net of tax | 7,492,272 | 3,515,649 | 113.11% |
Profit before tax | 27,021,830 | 16,276,363 | 66.02% |
Income tax expense | (9,480,382) | (5,956,478) | 59.16% |
Profit for the period | 17,541,448 | 10,319,885 | 69.98% |
Earnings per share - basic and diluted (Rupees) | 29.42 | 17.31 | 69.96% |
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