FCCL lays a strong foundation with 38% profit growth

MG News | February 25, 2025 at 02:46 PM GMT+05:00
February 25, 2025 (MLN): Fauji Cement Company Limited (PSX: FCCL) posted a net profit of Rs7.27 billion [EPS: Rs2.96] for the six-month period ended December 31, 2024, marking a 37.8% increase from Rs5.27bn [EPS: Rs2.15] recorded in the same period last year (SPLY).
The company’s revenue rose by 18.6% to Rs47.84bn, up from Rs40.35bn in SPLY, reflecting strong demand and improved pricing strategies.
Meanwhile, gross profit surged by 30.5% to Rs16.78bn from Rs12.85bn, as gross margins expanded due to cost efficiencies and stable sales prices.
During the period under review, other income soared by 93.5% to Rs386.96mn, compared to Rs199.94mn in SPLY, due to better returns on investments and financial gains.
On the expense front, administrative expenses increased by 14.5% to Rs848.87mn, and other operating expenses jumped 41.2% to Rs811.95mn.
Meanwhile, selling and distribution expenses dropped by 14.5% to Rs1.4bn, indicating optimized logistics and marketing costs.
The company’s finance cost rose 40.4% to Rs3bn, up from Rs2.14bn in SPLY, largely due to prevailing high-interest rates.
However, finance income surged by 338.2% to Rs595.75mn, offsetting part of the increased borrowing costs.
On the tax front, Fauji Cement paid Rs4.43bn in income tax, marking a 56.99% increase compared to Rs2.82bn in SPLY, translating to an effective tax rate of 37.9%.
Financial Results For The Half Year Ended December 31, 2024 (Rupees '000) | |||
Dec-24 | Dec-23 | %Change | |
Revenue - net | 47,844,363 | 40,351,754 | 18.57% |
Cost of Sales | (31,059,263) | (27,493,466) | 12.97% |
Gross Profit | 16,785,100 | 12,858,288 | 30.54% |
Other Income | 386,959 | 199,940 | 93.54% |
Selling & Distribution Expenses | (1,402,612) | (1,639,519) | -14.45% |
Administrative Expenses | (848,878) | (741,247) | 14.52% |
Other Expenses | (811,953) | (575,053) | 41.20% |
Operating Profit | 14,108,916 | 10,102,409 | 39.66% |
Finance Cost | (3,004,293) | (2,140,645) | 40.35% |
Finance Income | 595,747 | 135,952 | 338.20% |
Net Finance Cost | (2,408,546) | (2,004,693) | 20.15% |
Profit Before Taxation | 11,700,370 | 8,097,716 | 44.49% |
Income Tax Expense | (4,433,228) | (2,823,852) | 56.99% |
Profit for the Period | 7,267,142 | 5,273,864 | 37.80% |
Earnings Per Share (EPS) - Basic & Diluted (Rupees) | 2.96 | 2.15 | 37.67% |
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