Kohat Cement profit jumps over five times

News Image

MG News | September 05, 2024 at 02:06 PM GMT+05:00

0:00

September 05, 2024 (MLN): Kohat Cement Limited (PSX: KOHC) recorded an increase of 420.4% in its profitability during the quarter ending June 2024 compared to last year despite a decline in sales revenue.

The company made a profit after tax of Rs2.38 billion [EPS: Rs12.16], compared to a profit of Rs457.88 million [EPS: Rs2.28] in the same period last year (SPLY).

The increase was largely led by an improvement in gross margins, a surge in its other income, and a significantly lower tax rate.

Going by the results, the company's sales went down by 4.6% to Rs8.68bn as compared to Rs9.1bn in SPLY.

However, the cost of sales also fell by 10.7%, improving the gross profit by 11.8% to Rs2.75bn in Q4 FY24.

The gross margins increased to 31.8% as compared to 27.1% in SPLY.

During the period under review, other income jumped 76.1% to stand at Rs1.31bn in Q4 FY24 as compared to Rs744.16m in SPLY.

On the expense side, the company's administrative expenses rose 20.0% from a year ago to Rs126.74m, while selling and distribution expenses fell 1.2% to Rs59.56m.

The company’s finance cost decreased by 37.8% and stood at Rs142.57m as compared to Rs229.1m in SPLY.

On the tax front, the company paid a lower tax worth Rs1.41bn against the Rs2.18bn paid in the corresponding period of last year, depicting a decrease of 35.3%.

This translates to an effective tax rate of 37.2% as compared to 82.7% in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 8,675,602 9,097,060 -4.63%
Cost of sales (5,920,845) (6,632,875) -10.73%
Gross Profit/ (loss) 2,754,757 2,464,185 11.79%
Administrative Expenses (126,737) (105,602) 20.01%
Selling And Distribution Expenses (59,559) (60,266) -1.17%
Other Income 1,310,339 744,162 76.08%
Other Operating Expenses 60,445 (170,645) -
Finance Cost (142,568) (229,102) -37.77%
Profit/ (loss) before taxation 3,796,678 2,642,732 43.66%
Taxation (1,414,084) (2,184,857) -35.28%
Net profit/ (loss) for the period 2,382,594 457,875 420.36%
Basic earnings/ (loss) per share 12.16 2.28 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 163,098.19
607.60M
-0.87%
-1432.62
ALLSHR 99,276.25
1,397.26M
-0.80%
-801.63
KSE30 50,184.56
221.88M
-0.89%
-450.56
KMI30 238,333.52
129.55M
-1.13%
-2718.46
KMIALLSHR 65,792.54
685.73M
-0.99%
-655.65
BKTi 45,653.52
111.72M
-1.00%
-461.31
OGTi 32,313.25
10.70M
-1.57%
-516.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 114,520.00 0.00
0.00
-2470.00
-2.11%
BRENT CRUDE 62.09 65.36
62.00
-3.13
-4.80%
RICHARDS BAY COAL MONTHLY 81.00 81.00
81.00
-1.60
-1.94%
ROTTERDAM COAL MONTHLY 90.50 0.00
0.00
0.40
0.44%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 58.24 0.00
0.00
-0.66
-1.12%
SUGAR #11 WORLD 16.10 16.35
15.97
-0.16
-0.98%

Chart of the Day


Latest News
October 12, 2025 at 03:48 PM GMT+05:00

Weekly Market Roundup


October 12, 2025 at 01:19 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


October 11, 2025 at 06:54 PM GMT+05:00

Govt moves closer to privatization of First Women Bank


October 11, 2025 at 01:41 PM GMT+05:00

U.S. to impose 100% tariffs on chinese imports


October 11, 2025 at 01:20 PM GMT+05:00

Crypto bloodbath as Trump drops tariff bombshell on China



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg