DGKC delivers Rs1.05bn profit in 1HFY24

February 26, 2024 (MLN): D.G. Khan Cement Company Limited (PSX: DGKC) recorded an increase of 13.17% YoY in its unconsolidated profits in the first half of FY24, with the company's after-tax profits rising to Rs1.05 billion [EPS: Rs2.41], compared to a profit of Rs968.12m [EPS: Rs2.13] in the same period last year (SPLY).

Going by the results, the company's top line increased by 16.88% YoY to Rs34.78bn as compared to Rs29.76bn in SPLY.

The cost of sales also rose by 14.65% YoY but was lesser than proportionate to sales rise, which improved the gross profit by 30.21% YoY to Rs5.54bn in 1HFY24.

The gross margins improved to 15.94% as compared to 14.30% in SPLY.

During the review period, other income inflated by 55.37% YoY to stand at Rs2.16bn in 1HFY24 as compared to Rs1.39bn in SPLY.

On the expense side, the company observed an increase in administrative expenses by 36.37% YoY while other expenses fell 22.26% YoY to clock in at Rs580.37m and Rs66.09m respectively during the review period.

The company’s finance cost rose by 28.48% YoY and stood at Rs4.12bn as compared to Rs3.2bn in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs688.38m against the Rs458.38m paid in the corresponding period of last year, depicting a rise of 50.18% YoY.

Amount in thousand except for EPS

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