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

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%

Copyright Mettis Link News

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

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