MLCF Q1 2024 profit drops 25% YoY

News Image

MG News | April 25, 2024 at 01:35 PM GMT+05:00

April 25, 2024 (MLN): Maple Leaf Cement Factory Limited (PSX: MLCF) recorded a decrease of 24.8% YoY in its profitability in the first three months of 2024, clocking in its profit after tax at Rs1.13 billion [EPS: Rs1.05], compared to a profit of Rs1.5bn [EPS: Rs1.40] in the same period last year (SPLY).

Going by the results, the company's top line contracted by 6.2% YoY to Rs15.98bn as compared to Rs17.04bn in SPLY.

The cost of sales also fell by 9.8% YoY but was lesser than proportionate to sales decline, which worsoned the gross profit by 4.8% YoY to Rs4.44bn in 1Q2024.

The gross margins, however, improved to 27.78% as compared to 24.87% in SPLY.

During the review quarter, other income grew by 5x YoY to stand at Rs161.89m in 1Q2024 as compared to Rs32.28m in SPLY.

On the expense side, the company observed a rise in administrative expenses by 22.5% YoY while recuing other expenses by 91.2% YoY to clock in at Rs441.11m and Rs30.36m respectively during the review period.

The company’s finance cost went up by 88.1% YoY and stood at Rs936.43m as compared to Rs497.8m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a lower tax worth Rs745.2m against the Rs765.93m paid in the corresponding period of last year, depicting a fall of 2.7% YoY.

Unconsolidated (un-audited) Financial Results for quarter ended March 31, 2024 (Rupees in '000)
  Mar 24 Mar 23 % Change
Sales 15,980,112 17,038,267 -6.21%
Cost of sales (11,541,418) (12,800,858) -9.84%
Gross Profit/ (loss) 4,438,694 4,237,409 4.75%
Administrative Expenses (441,108) (360,109) 22.49%
Selling And Distribution Expenses (1,315,905) (800,353) 64.42%
Other Income 161,893 32,282 401.50%
Other Operating Expenses (30,361) (344,834) -91.20%
Finance Cost (936,425) (497,796) 88.11%
Profit/ (loss) before taxation 1,876,788 2,266,599 -17.20%
Taxation (745,202) (765,929) -2.71%
Net profit/ (loss) for the period 1,131,586 1,500,670 -24.59%
Basic earnings/ (loss) per share 1.05 1.40 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 179,571.27
436.67M
1.06%
1878.35
ALLSHR 108,600.94
844.23M
1.00%
1073.54
KSE30 53,548.42
162.02M
0.99%
525.53
KMI30 256,725.70
154.74M
0.76%
1936.43
KMIALLSHR 70,620.69
563.61M
0.98%
683.55
BKTi 48,625.03
36.31M
1.37%
658.39
OGTi 37,179.52
8.29M
0.94%
345.85
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 60,375.00 63,160.00
60,130.00
-1990.00
-3.19%
BRENT CRUDE 73.92 77.00
73.22
-3.16
-4.10%
RICHARDS BAY COAL MONTHLY 115.00 0.00
0.00
0.50
0.44%
ROTTERDAM COAL MONTHLY 126.50 126.50
125.90
0.50
0.40%
USD RBD PALM OLEIN 1,157.50 1,157.50
1,157.50
0.00
0.00%
CRUDE OIL - WTI 70.38 73.18
69.63
-2.83
-3.87%
SUGAR #11 WORLD 14.07 14.08
13.81
0.12
0.86%

Chart of the Day


Latest News
June 24, 2026 at 06:36 PM GMT+05:00

Shifa earns historic dual JCI honor


June 24, 2026 at 06:15 PM GMT+05:00

SCRA balance drops Rs915m to Rs26.3bn


June 24, 2026 at 05:00 PM GMT+05:00

Pakistan showcases basmati, eyes deeper EU trade ties



Top 5 things to watch in this week

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