Fecto Cement’s net profit soars nearly 164% in H1 FY24

MG News | February 20, 2025 at 03:14 PM GMT+05:00

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February 20, 2025 (MLN): Fecto Cement Limited's (PSX: FECTC) net profit surged 163.8% during the half-year ended December 31, 2024, driven by a significant increase in gross profit.

The company's earnings per share (EPS) jumped to Rs9.39 from Rs3.56 in the same period last year (SPLY).

The mining giant reported a profit after tax of Rs470.87 miilion, up from Rs178.50mn in SPLY.

Despite a slight 2.07% dip in revenue to Rs5.60 billion from Rs5.72bn, the company’s cost of sales declined by 11.56%, boosting gross profit by 61.8% to Rs1.19bn.

Operating profit surged 68.7% to Rs935.57mn, reflecting efficiency improvements.

However, administrative and distribution costs rose 25.2% to Rs297.54mn, while other expenses soared 159.3% to Rs4.26mn.

Meanwhile, finance costs dropped 16.7% to Rs108.17mn.

The company paid Rs307.58mn in taxes, a 100.9% increase from last year’s Rs153.11mn, reflecting a higher tax burden.

Levies also declined by 47.4% to Rs48.96mn, contributing to the strong bottom-line growth.

Financial Results For The Half Year Ended December 31, 2924
	Dec-24	Dec-23	%Change
Sales revenue - net	5,602,202	5,720,833	-2.07%
Cost of sales	(4,405,665)	(4,981,479)	-11.56%
Gross profit	1,196,537	739,354	61.84%
Administrative expenses	(230,881)	(182,602)	26.44%
Distribution costs	(66,660)	(55,123)	20.93%
Total Administrative & Distribution Costs	(297,541)	(237,725)	25.16%
Other income	40,837	54,591	-25.19%
Other expenses	(4,265)	(1,645)	159.27%
Operating Profit	935,568	554,575	68.70%
Finance costs	(108,166)	(129,860)	-16.71%
Profit before levies and taxation	827,402	424,715	94.81%
Levies	(48,955)	(93,098)	-47.42%
Profit before taxation	778,447	331,617	134.74%
Taxation	(307,577)	(153,114)	100.88%
Profit after taxation	470,870	178,503	163.79%
Earnings per share - basic and diluted	9.39	3.56	163.76%

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