KOHC cements profits by 15.85% YoY in FY23

By 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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