DGKC’s net profit reaches Rs725m in 1QFY24, a 56% YoY improvement

October 30, 2023 (MLN): D.G. Khan Cement Company Limited (PSX: DGKC) experienced a rise of 56.29% YoY in its profitability in the first quarter of FY24, clocking in its profit after tax at Rs725.08 million [EPS: Rs1.59], compared to a profit of Rs463.93m [EPS: Rs0.96] in the same period last year (SPLY).

Going by the results, the company's top line went up by 20% YoY to Rs17.62bn as compared to Rs14.69bn in SPLY.

The cost of sales also rose by 14% YoY but was lesser than proportionate to sales increase, which improved the gross profit by 53.35% YoY to Rs3.39bn in 1QFY24.

Moreover, during the review period, other income rose by 28.68% YoY to stand at Rs866.21m in 1QFY24 as compared to Rs673.14m in SPLY.

On the expense side, the company observed a rise in administrative expenses by 28.41% YoY and other expenses by 29.05% YoY to clock in at Rs318.58m and Rs81.37m respectively during the review period.

The company’s finance costs increased by 35.14% YoY and stood at Rs2.26bn as compared to Rs1.67bn in 1QFY23, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs480.33m against the Rs216.11m paid in the corresponding period of last year, depicting a rise of 122.26% YoY.

Amount in thousand except for EPS

DGKC and KSE100 YTD Performance

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