Gharibwal Cement reports profit fall by 41.2 percent to Rs. 1 billion

MG News | April 24, 2018 at 10:37 AM GMT+05:00

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Gharibwal Cement Limited (GWLC) today announced financial results for the nine months period ending 31 March, 2018 reporting Net Sales earned worth Rs. 8.512 billion. Furthermore, the company’s Gross Profit for the year fell by 28.57 percent reaching at Rs. 2.061 billion during the outgoing nine months.

On the expenses front, GWLC reported 13.77 percent increase in General & Administration Expenses, 14.34 percent decrease in Selling & Distribution Expenses with a 18.15 percent dip in Other Expenses, whereas, other Gharibwal’s other income also decreased by 33.09 percent during the period.

Gharibwal Cement Limited reported profit after taxation at Rs. 1 billion down from 1.701 billion last year translating into an EPS of Rs. 2.50 vs. an EPS of Rs. 4.25 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Net Sales	8,512,585	8,370,193	1.70%
Cost of Sales	6,451,276	5,484,280	17.63%
Gross Profit	2,061,309	2,885,913	-28.57%
General and Administrative Expenses	276,492	243,030	13.77%
Selling and Distribution Expenses	17,574	20,517	-14.34%
Other Expenses	101,733	124,294	-18.15%
Other Income	19,889	29,725	-33.09%
Finance Cost	298,729	201,270	48.42%
Profit before Taxation	1,386,670	2,326,527	-40.40%
Taxation	386,433	625,492	-38.22%
Profit after Taxation	1,000,237	1,701,035	-41.20%
EPS - Basic and diluted	2.50	4.25	-41.18%

Company release on Earnings Report can be accessed here.

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