Cherat Cement Q1 2024 profits dip slightly to Rs1.24bn
.png?width=950&height=450&format=Webp)
MG News | April 25, 2024 at 03:38 PM GMT+05:00
April 25, 2024 (MLN): Cherat Cement Company Limited (PSX: CHCC) revealed its profits for the first quarter of 2024, wherein the profit after tax fell slightly to Rs1.24 billion [EPS: Rs6.40] compared to a profit of Rs1.27bn [EPS: Rs6.55] in the same period last year (SPLY).
Going by the results, the company's top line decreased by 7.1% YoY to Rs8.64bn as compared to Rs9.3bn in SPLY.
The cost of sales also fell 11.8% YoY, improving the gross profit by 6.3% YoY to Rs2.56bn in 1Q2024.
The gross margins increased to 29.62% as compared to 25.88% in SPLY.
During the period under review, other income fell by 40.8% YoY to stand at Rs139.5m in 1Q2024 as compared to Rs235.71m in SPLY.
On the expense side, the company observed a fall in administrative expenses by 2.2% YoY while other expenses rose 5.9% YoY to clock in at Rs112.22m and Rs111.63m respectively during the review period.
The company’s finance cost dipped by 22.5% YoY and stood at Rs321.47m as compared to Rs414.84m in SPLY.
On the tax front, the company paid a higher tax worth Rs700.45m against the Rs573.49m paid in the corresponding period of last year, depicting a rise of 22.1% YoY.
| Unconsolidated (un-audited) Financial Results for quarter ended March 31, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Mar 24 | Mar 23 | % Change | |
| Sales | 8,639,594 | 9,299,028 | -7.09% |
| Cost of sales | (6,080,784) | (6,892,023) | -11.77% |
| Gross Profit/ (loss) | 2,558,810 | 2,407,005 | 6.31% |
| Administrative Expenses | (112,216) | (114,777) | -2.23% |
| Selling And Distribution Expenses | (208,508) | (162,102) | 28.63% |
| Other Income | 139,497 | 235,712 | -40.82% |
| Other Operating Expenses | (111,628) | (105,373) | 5.94% |
| Finance Cost | (321,472) | (414,837) | -22.51% |
| Profit/ (loss) before taxation | 1,944,483 | 1,845,628 | 5.36% |
| Taxation | (700,451) | (573,494) | 22.14% |
| Net profit/ (loss) for the period | 1,244,032 | 1,272,134 | -2.21% |
| Basic earnings/ (loss) per share | 6 | 7 | -% |
| 0.00 | 0.00 | - | |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 163,948.94 355.71M | 0.59% 954.77 |
| ALLSHR | 98,115.06 694.25M | 0.60% 589.15 |
| KSE30 | 49,396.77 182.58M | 0.62% 306.55 |
| KMI30 | 235,367.68 199.31M | 0.54% 1269.93 |
| KMIALLSHR | 63,645.64 404.00M | 0.57% 361.06 |
| BKTi | 45,631.49 55.80M | 0.38% 173.39 |
| OGTi | 33,449.53 11.78M | 0.86% 286.64 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 81,360.00 | 81,590.00 80,040.00 | 970.00 1.21% |
| BRENT CRUDE | 113.27 | 114.07 112.81 | -1.17 -1.02% |
| RICHARDS BAY COAL MONTHLY | 113.00 | 0.00 0.00 | 1.00 0.89% |
| ROTTERDAM COAL MONTHLY | 109.45 | 109.70 108.50 | 2.00 1.86% |
| USD RBD PALM OLEIN | 1,191.50 | 1,191.50 1,191.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 104.48 | 105.48 103.92 | -1.94 -1.82% |
| SUGAR #11 WORLD | 15.31 | 15.33 14.85 | 0.36 2.41% |
Chart of the Day
Latest News
Top 5 things to watch in this week
International Reserves/Foreign Currency Liquidity
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|