August 09, 2024 (MLN): Lucky Cement Limited (PSX: LUCK) reported its profit and loss statement for the second quarter of 2024, posting a profit after tax of Rs9.46 billion [EPS: Rs32.11].
That is up a significant 265% YoY compared to a profit of Rs2.59bn [EPS: Rs8.33] in the same period last year (SPLY).
For the whole year ending June 2024, the company posted a profit of Rs28.11bn as against Rs13.73bn a year earlier.
Along with the results, the company announced a cash dividend of Rs15 per share.
Going by the unconsolidated quarterly results, the company's top line went up by 9.6% to Rs27.92bn as compared to Rs25.48bn in SPLY.
The cost of sales also rose by 2.5% YoY but was lesser than proportionate to sales rise, which improved the gross profit by 28.1% YoY to Rs9.05bn in Q2 2024.
The gross margins improved to 32.4% as compared to 27.7% in SPLY.
During the period under review, other income rose by 357.5% to stand at Rs7.51bn in Q2 2024 as compared to Rs1.64bn in SPLY.
On the expense side, the company's administrative expenses rose 30.2% YoY to Rs594.13m, selling and distribution expenses rose 51.1% YoY to Rs2.13bn, and other operating expenses rose 51.1% YoY to Rs169.08m.
The company’s finance cost grew by 4.1% and stood at Rs386.49m as compared to Rs371.33m in SPLY, mainly due to higher interest rates.
On the tax front, the company paid a higher tax worth Rs4.17bn against the Rs3.04bn paid in the corresponding period of last year, depicting an increase of 37.2%.
| Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Jun 24 | Jun 23 | % Change | |
| Sales | 27,921,073 | 25,484,486 | 9.56% |
| Cost of sales | (18,868,999) | (18,418,010) | 2.45% |
| Gross Profit/ (loss) | 9,052,074 | 7,066,476 | 28.10% |
| Administrative Expenses | (594,134) | (456,394) | 30.18% |
| Selling And Distribution Expenses | (2,128,627) | (1,408,412) | 51.14% |
| Other Income | 7,511,299 | 1,641,745 | 357.52% |
| Other Operating Expenses | 169,075 | (844,451) | – |
| Finance Cost | (386,489) | (371,327) | 4.08% |
| Profit/ (loss) before taxation | 13,623,198 | 5,627,637 | 142.08% |
| Taxation | (4,165,160) | (3,035,477) | 37.22% |
| Net profit/ (loss) for the period | 9,458,038 | 2,592,160 | 264.87% |
| Basic earnings/ (loss) per share | 32.11 | 8.33 | – |
Amount in thousand except for EPS
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Posted on: 2024-08-09T09:42:30+05:00
