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D.G Khan Cement’s profits slip by 87.5% as cost of sales rise

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October 25, 2018 (MLN): D.G Khan Cement Company Ltd.’s profits for the 1st quarter ended 30th September 2018 demonstrated a substantial decline of 87.5%, primarily due to a sizable increase in cost of sales of about 42.29% (Rs2.29 bln).

Even though, company’s selling and distributional cost and other expenses exhibited a decline of 22.63% and 70.28% respectively, the cost of sales increased by a considerable margin which sharply declined company’s profits.

The Earnings per share of the company recorded an ample decline of around 87.52% from Rs6.25 per share to Rs0.78 per share.

 

Condensed Interim Statement of Profit and Loss for the 1st Quarter ended September 30th, 2018 ('000 Rupees)

 

Sep-18

Sep-17

% Change

Sales

                        8,788,734

                        8,110,392

8.36%

Cost of sales

                      (7,709,856)

                      (5,418,234)

42.29%

Gross profit

                        1,078,878

                        2,692,158

-59.93%

Administrative expenses

                          (187,198)

                          (168,080)

11.37%

Selling and distribution expenses

                          (183,919)

                          (237,724)

-22.63%

Other expenses

                            (83,621)

                          (281,327)

-70.28%

Other income

                            475,048

                            491,755

-3.40%

Changes in fair value of biological assets

                              27,196

                                        –  

 

Finance cost

                          (650,853)

                            (96,499)

574.47%

Profit before taxation

                            475,531

                        2,400,283

-80.19%

Taxation

                          (133,975)

                            333,035

 

Profit after taxation

                            341,556

                        2,733,318

-87.50%

Earnings per share – basic and diluted (Rupees)

                                   0.78

                                   6.25

-87.52%

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Posted on: 2018-10-25T17:27:00+05:00

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