DGKC quarterly earnings beat expectations

MG News | October 17, 2024 at 03:21 PM GMT+05:00

0:00

October 17, 2024 (MLN): D.G. Khan Cement Company Limited (PSX: DGKC) on Thursday topped analysts’ estimates for first-quarter profit as its finance costs eased more than anticipated.

Its net profit rose 22% from last year to Rs804.13 million in the quarter ending September 2024. That translates to an earnings per share of Rs1.84, significantly higher than an estimate of Rs1.03 per share.

Going by the unconsolidated results, the company's top line decreased 7.4% to Rs15.3bn as compared to Rs16.52bn in SPLY. Gross profit fell 6.8% to Rs2.99bn.

Other income rose 25.6% to stand at Rs1.04bn in Q1 FY25 as compared to Rs826.51m in SPLY.

On the expense side, the company's administrative expenses rose 6.5% from a year ago to Rs303.63m, while selling and distribution expenses rose 60.6% to Rs817.54m.

The company’s finance cost fell by 23.9% and stood at Rs1.59bn as compared to Rs2.09bn in SPLY.

On the tax front, the company paid a higher tax worth Rs514.11m against the Rs422.24m paid in the corresponding period of last year, depicting a rise of 21.8%.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	15,300,920	16,517,097	-7.36%
Cost of sales	(12,306,572)	(13,303,952)	-7.50%
Gross Profit/ (loss)	2,994,348	3,213,145	-6.81%
Administrative Expenses	(303,626)	(285,199)	6.46%
Selling And Distribution Expenses	(817,535)	(509,124)	60.58%
Other Income	1,037,849	826,509	25.57%
Other Operating Expenses	(3,337)	(75,055)	-95.55%
Finance Cost	(1,589,456)	(2,087,480)	-23.86%
Profit/ (loss) before taxation	1,318,243	1,082,796	21.74%
Taxation	(514,114)	(422,239)	21.76%
Net profit/ (loss) for the period	804,129	660,557	21.73%
Basic earnings/ (loss) per share	1.84	1.51	-

Amount in thousand except for EPS

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