Cherat Cement Company Ltd. profits rise 14.59 percent to Rs. 1.795 billion

Cherat Cement Company Limited (CHCC) today released financial results for the year and quarter ending 31 March, 2018. The company reported significant increase in sales and bottom line profits.

CHCC releases on the exchange show a very decent performance during the last year ending 31 March, 2018. Net Turnover during the reported period went up by 66.04 percent, with Cost of Sales increasing by more than 104.30 percent, resulting in a Gross Margin of Rs. 2.569 billion against Rs. 2.515 billion last year.

On the expenses front, CHCC reported 18.91 percent increase in Distribution Costs, 9.11 percent increase in Administrative Expenses, whereas, other expenses incurred by the company went down by 7.06 percent during the period.

Furthermore, CHCC also reported a 29.73 percent decrease in Other Income reaching Rs. 55.442 million during the year.

Cherat Cement Company Limited reported profit after taxation at Rs. 1.795 billion against Rs. 1.566 billion during the same period last year translating into an EPS of Rs. 10.16 vs. an EPS of Rs. 8.87 during the period ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Year Ended, 31 March, 2018

Key Financials

2018

2017

% Change

 

Amounts in PKR ‘000

Turnover – Net

11,147,937

6,714,183

66.04%

Cost of Sales

8,578,755

4,199,041

104.30%

Gross Profit

2,569,182

2,515,142

2.15%

Distribution Costs

248,839

209,275

18.91%

Adminsitrative Expenses

181,152

166,026

9.11%

Other Expenses

106,643

114,743

-7.06%

Other Income

55,442

78,902

-29.73%

Operating Profit

2,087,990

2,104,000

-0.76%

Finance Costs

266,682

98,417

170.97%

Profit before Taxation

1,821,308

2,005,583

-9.19%

Taxation

26,003

438,882

-94.08%

Profit for the Period

1,795,305

1,566,701

14.59%

EPS – Basic and diluted

10.16

8.87

14.54%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-25T12:32:00+05:00