KOHC cements profits by 15.85% YoY in FY23

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MG News | August 31, 2023 at 04:00 PM GMT+05:00

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August 31, 2023 (MLN): Kohat Cement Company Limited (PSX: KOHC) wrapped the fiscal year 2023 on a positive note as the company enjoyed a profit worth Rs5.82 billion [EPS: Rs28.98], up by 15.85% YoY compared to Rs5bn profit [EPS: Rs25.01] in FY22, the financial statement sent to PSX disclosed today.

The topline of the company increased by 18.39% YoY to Rs38.92bn whereas the cost of sales moved up by 23.51% YoY which squeezed the gross margin of the company from 30% to 27%.

On the expense side, the company observed an increase of 44.20% YoY, and 12.08% YoY in administrative and selling expenses, respectively. Meanwhile, the other expenses expanded by 30.81% YoY.

The other income of the company increased to Rs2.08bn, up by over 3x YoY.

In terms of taxation, the company paid Rs4.64bn, observing a 19.16% YoY surge compared to Rs3.9bn in FY22.

Profit and Loss Account for the year ended June 30, 2023 (Rupees)

 

Jun-23

Jun-22

% Change

Sales - net

38,921,635,350

32,876,949,179

18.39%

Cost of goods sold

(28,488,941,331)

(23,065,180,670)

23.51%

Gross profit/ (loss)

10,432,694,019

9,811,768,509

6.33%

Selling and distribution expenses

(176,123,458)

(122,136,736)

44.20%

Administrative and general expenses

(396,230,055)

(353,522,846)

12.08%

Other operating income

2,085,808,053

690,143,396

202.23%

Other expenses

(736,512,959)

(563,052,382)

30.81%

 

776,941,581

(348,568,568)

-322.89%

Operating profit/ (loss)

11,209,635,600

9,463,199,941

18.46%

Finance cost

(740,307,772)

(537,710,815)

37.68%

Profit/ (loss)before taxation

10,469,327,828

8,925,489,126

17.30%

Taxation

(4,648,576,683)

(3,901,208,866)

19.16%

Profit after taxation

5,820,751,145

5,024,280,260

15.85%

Earnings/(loss) per share - basic and diluted (Rupees)

28.98

25.01

15.87%

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