February 19, 2021 (MLN): Fauji Cement Company Limited’s net profits during 1HFY21, skyrocketed by 3.3x to Rs 1.6 billion as opposed to Rs 482 million reported in the same period last year.
This reflected in the company’s earnings per share which rose from Rs 0.35/sh to Rs 1.16/sh during the period under consideration.
During the period company witnessed 21.49% YoY growth in topline largely on the back of higher retention pricesowing to improving fundamentals of the cement sector. This, coupled with low-cost inventory kept the company’s margin elevated at 23% compared to 10% in 1HFY20.
On the cost front, FCCL’s Operating cost increased by 27%YoY during the period while net finance costs declined by 41%YoY due to lower interest rates.
Moreover, the company booked effective taxation at 27% compared to 13% in 1HFY20.
Profit and Loss Account for the Half Year ended December 31, 2020 ('000 Rupees)
Dec-20
Dec-19
% Change
Turnover – net
11,610,729
9,557,063
21.49%
Cost of Sales
(8,893,042)
(8,573,310)
3.73%
Gross Profit/ (loss)
2,717,687
983,753
176.26%
Selling and Distribution Cost
(93,440)
(104,210)
-10.33%
Administrative Expenses
(253,887)
(262,708)
-3.36%
Other Operating Expenses
(161,836)
(35,070)
361.47%
Other Income
17,148
28,903
-40.67%
Finance Cost
(62,666)
(80,022)
-21.69%
Finance Income
30,287
24,723
22.51%
(32,379)
(55,299)
-41.45%
Profit/(loss) before Taxation
2,193,293
555,369
294.93%
Taxation
(592,464)
(73,180)
709.60%
Profit/(loss) for the period
1,600,829
482,189
231.99%
Earnings/(loss) per Share – Basic and Diluted (Rs)
