Fecto Cement transitions to profit, earns Rs317m in FY24

October 07, 2024 (MLN): Fecto Cement Limited (PSX: FECTC) transitioned to profitability in FY24, earning Rs317.32 million [EPS: Rs6.33] compared to a loss of Rs133.25m [LPS: Rs2.66] in the same period last year (SPLY).

According to the profit and loss account, the company's top line surged by 25.6% to Rs10.91bn as compared to Rs8.68bn in FY23.

In the same vein, the cost of sales increased by 13.3% but as sales grew by a greater proportion, the gross profit surged by 357.6% to reach Rs1.43bn in FY24.

The gross margins improved to 13.1% as compared to 3.6% in SPLY.

On the expense side, the company's administrative expenses rose 11.8% YoY to Rs346.34m, while distribution cost increased 15.7% YoY to Rs107.14m,

Conversely, other operating expenses fell 44.4% YoY to Rs2.95m.

FETC’s finance cost deflated by 8.9% and stood at Rs276.17m as compared to Rs303.2m in SPLY.

On the tax front, the company paid a higher tax worth Rs470.98m against the Rs39.68m tax rebate received in the corresponding year.

Amount in thousand except for EPS

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