DGKC’s bottom-line gains plummet on account of cost overrun

08:49
February 26, 2019
MG

February 20, 2019 (MLN): D.G Khan Cement Company Limited (DGKC) has declared a 51.7% decline in its half yearly profits as its net income logs in at Rs.1.67 billion (EPS: Rs.3.82). According to the company’s consolidated financial statement, the net profits have plunged from Rs.3.5 billion recorded in the same period last year (SPLY).

During the period from July to December 2018, DGKC’s sales marked a rise of 26% (or Rs.4.5 billion) while cost of sales mounted substantially by Rs.6.4 billion (or +54%), leading to a 36% falloff in Gross profits (Rs.3.4 billion).

On top of this, the company’s finance cost recorded a mammoth growth of 581% worth Rs.1.24 billion, (logging in at Rs.1.45 billion).

Consolidated Profit and Loss Account for the half year ended December 31, 2018 ('000 Rupees)
	Dec-18	Dec-17	% Change
Sales	21,496,338	17,018,205	26.31%
Cost of sales	(18,143,954)	(11,757,266)	54.32%
Gross profit	3,352,384	5,260,939	-36.28%
Administrative expenses	(349,162)	(332,807)	4.91%
Selling and distribution expenses	(660,967)	(470,210)	40.57%
Other operating expenses	(533,905)	(595,130)	-10.29%
Other income	1,201,583	1,156,260	3.92%
Finance cost	(1,449,637)	(212,616)	581.81%
Profit before taxation	1,560,296	4,806,436	-67.54%
Taxation	111,584	(1,340,289)
Profit after taxation	1,671,880	3,466,147	-51.77%
Earnings per share – basic and diluted (Rupees)	3.82	7.91	-51.71%

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Posted on: 2019-02-26T13:49:00+05:00

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