Bestway Cement reports around 70% increase in profit after tax

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MG News | April 17, 2025 at 10:08 AM GMT+05:00

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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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