October 15, 2019 (MLN): Profitability for Attock Cement Pakistan Limited (ACPL) for the quarter ended on September 30, 2019, remained flat at Rs 421 million with Earning per share (EPS) stood at Rs 3 as compared to same quarter last year.
The top-line earnings of the company declined by 5%YoY to Rs 5.3 billion during 1QFY20 due to extended monsoon seasons and weak local demand, while the cost of sales deteriorated by 10.67% YoY, which led the gross profits to surge by 14% YoY.
Moreover, gross level margins also incremented by 4 ppts YoY to 25% on account of lower coal prices but depreciation of Pakistani Rupee against USD curbed the benefits to some extent.
With regards to company’s major expense heads, distribution, admin and other cost surged by 4%, 3% and 44% YoY respectively, whereas, finance cost hovered by 29% YoY due to higher interest rates.
The company also witnessed an increase in tax expenses by 69% YoY which further eroded company’s profitability.
Profit and Loss Account for the quarter ended September 30th 2019 ('000 Rupees)
