August 31, 2023 (MLN): D.G Khan Cement Company (PSX: DGKC) witnessed a loss of Rs3.36 billion [LPS: Rs8.06] in the financial year 2023 ended on June 30, 2023, compared to the profit of Rs3.38bn [EPS: Rs7.21] in FY22, the financial statement sent to PSX unveiled on Thursday.
The loss is attributed to the 2x YoY surge in taxation and finance costs.
The topline of the company increased by 14.34% YoY to Rs70.49bn whereas the cost of sales moved up by 18.86% YoY which squeezed the gross margin of the company from 18% to 15%.
On the expense side, the company observed an increase of 17.16% YoY, and 3.96% YoY in administrative and selling expenses, respectively. On the other hand, the other expenses dropped by 70.5% YoY.
The other income of the company increased to Rs3.24bn, up 18.66% YoY.
In terms of taxation, the company paid Rs7.2bn, observing a 2x YoY surge compared to Rs3.4bn in FY22.
|
Consolidated Profit and Loss Account for the year ended June 30, 2023 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Jun-23 |
Jun-22 |
% Change |
|
Revenue |
70,495,201 |
61,653,833 |
14.34% |
|
Cost of sales |
(59,820,917) |
(50,328,602) |
18.86% |
|
Gross profit |
10,674,284 |
11,325,231 |
-5.75% |
|
Administrative expenses |
(1,045,635) |
(892,479) |
17.16% |
|
Selling and distribution expenses |
(1,822,492) |
(1,753,090) |
3.96% |
|
Net impairment gains/ (losses) on financial assets |
(99,981) |
15,069 |
– |
|
Changes in the fair value of biological assets |
441,456 |
303,033 |
45.68% |
|
Other expenses |
(349,232) |
(1,183,810) |
-70.50% |
|
Other income |
3,245,940 |
2,735,461 |
18.66% |
|
Finance cost |
(7,219,255) |
(3,748,080) |
92.61% |
|
Profit/ (Loss) before taxation |
3,825,085 |
6,801,335 |
-43.76% |
|
Taxation |
(7,191,139) |
(3,418,913) |
110.33% |
|
Profit/ (loss) after taxation |
(3,366,054) |
3,382,422 |
– |
|
Earnings / (Loss) per share – basic and diluted (Rupees) |
(8.06) |
7.21 |
– |
Copyright Mettis Link News
Posted on: 2023-08-31T15:35:50+05:00
