Kohat Cement’s Q1 profits rise to Rs2.1bn

April 25, 2024 (MLN): Kohat Cement Limited (PSX: KOHC) unveiled its profit and loss statement for the first quarter of 2024, wherein the profit after tax clocked in at Rs2.06 billion [EPS: Rs10.50] compared to a profit of Rs1.62bn [EPS: Rs8.08] in the same period last year (SPLY).

Going by the results, the company's top line dipped by 15.0% YoY to Rs8.51bn as compared to Rs10.01bn in SPLY.

However, the cost of sales also fell by 23.2% YoY, improving the gross profit by 13.7% YoY to Rs2.55bn in 1Q2024.

The gross margins improved to 29.93% as compared to 22.39% in SPLY.

Moreover, during the review period, other income surged by 99.1% YoY to stand at Rs1.08bn in 1Q2024 as compared to Rs541.34m in SPLY.

On the expense side, the company observed an increase in administrative expenses by 22.7% YoY and other expenses by 7.7% YoY to clock in at Rs117.73m and Rs177.39m respectively during the review period.

The company’s finance cost shrunk 10.3% YoY and stood at Rs151.34m as compared to Rs168.78m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs1.07bn against the Rs687.45m paid in the corresponding period of last year, depicting a rise of 55.4% YoY.

Amount in thousand except for EPS

Copyright Mettis Link News