Cherat Cement reports Rs4.4bn profit, declares 30% final dividend
.png)
MG News | September 05, 2023 at 01:02 PM GMT+05:00
September 05, 2023 (MLN): Cherat Cement Company Limited (PSX: CHCC) witnessed a meager 1.17% YoY decline in its profitability in FY23, reporting a profit after tax of Rs4.4 billion [EPS: Rs22.67].
This figure marks a slight decrease compared to the Rs4.46bn profit [EPS: Rs22.93] it achieved during the same period last year (SPLY).
Along with the results, the company announced a final cash dividend at Rs3 per share i.e. 30%.
This is in addition to the interim cash dividend already paid at Rs1.5 per share i.e. 15%.
Going by the results, the company's top line expanded by 16.52% YoY to Rs37.39bn as compared to Rs32.09bn in SPLY.
The cost of sales also rose by 17.79% YoY but was lesser than proportionate to sales decline, which improved the gross profit by 13.25% YoY to Rs10.14bn in FY23.
During the review period, other income expanded by 16.25% YoY to stand at Rs453.97 million in FY23 as compared to Rs390.5m in FY22.
On the expense side, the company observed a rise in distribution costs by 14.58% YoY and other expenses by 31.51% YoY to clock in at Rs606.44m and Rs362.03m respectively during the review period.
The company’s finance costs soared by 40.86% YoY and stood at Rs1.91bn as compared to Rs1.36bn in FY23, mainly due to higher interest rates.
On the tax front, the company paid a lower tax worth Rs2.87bn against the Rs2.37bn paid in the corresponding period of last year, depicting a fall of 20.88% YoY.
Unconsolidated (un-audited) Financial Results for the year ended 30 June, 2023 (Rupees in '000) | |||
---|---|---|---|
June 23 | June 22 | % Change | |
Sales | 37,386,186 | 32,085,361 | 16.52% |
Cost of sales | (27,249,373) | (23,134,576) | 17.79% |
Gross Profit | 10,136,813 | 8,950,785 | 13.25% |
Distribution Costs | (606,436) | (529,254) | 14.58% |
Administrative expenses | (436,116) | (349,141) | 24.91% |
Other Income | 453,965 | 390,495 | 16.25% |
Other expenses | (362,027) | (275,286) | 31.51% |
Finance cost | (1,914,170) | (1,358,874) | 40.86% |
Profit before taxation | 7,272,029 | 6,828,725 | 6.49% |
Taxation | (2,868,097) | (2,372,760) | 20.88% |
Net profit for the period | 4,403,932 | 4,455,965 | -1.17% |
Basic earnings/ (loss) per share | 22.67 | 22.93 | - |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
BKTi | 37,831.34 13.04M | 1.62% 603.62 |
OGTi | 27,440.63 3.93M | -0.09% -23.70 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 118,545.00 | 119,740.00 118,145.00 | 250.00 0.21% |
BRENT CRUDE | 73.24 | 73.63 71.75 | 0.73 1.01% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 70.01 | 70.51 68.45 | 0.80 1.16% |
SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|