MLCF's profit cemented by 43% YoY in 9MFY23

By MG News | April 18, 2023 at 11:03 AM GMT+05:00

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April 18, 2023 (MLN): The profitability of Maple Leaf Cement Factory Limited (MLCF) clocked in at Rs6.18 billion (EPS Rs5.76) for the nine months ended on March 31, 2023, compared to Rs4.32bn (EPS Rs3.93) in the same period last year, registering a remarkable increase of 43.12% YoY, the company’s filing on PSX showed on Monday.

The company's net revenue soared by 38.13% YoY to stand at Rs47.09bn, compared to Rs34.09bn in 9MFY22 due to the recent expansion leading to a higher market share.

On the expense front, the distribution and marketing expenses surged by 56.28% YoY to Rs1.68bn, while administrative expenses increased by 55.75% YoY to Rs1.05bn.

Meanwhile, the finance cost of the company rose by 29.81% YoY to Rs1.49bn, mainly due to higher interest rates.

The company also enjoyed a remarkable increase in other income, climbing more than threefold to Rs91.35 million from a year ago.

Taxation for the 9MFY23 was 73.03% YoY higher, standing at Rs2.54bn compared to Rs1.47bn in 9MFY22.

Consolidated (un-audited) Financial Results for Nine Months Period Ended 31 March 2023
	Mar-23	Mar-22	% Change
Sales - net	47,089,636	34,091,314	38.13%
Cost of Sales	(33,185,816)	(24,729,300)	34.20%
Gross profit	13,903,820	9,362,014	48.51%
Distribution cost	(1,684,964)	(1,078,192)	56.28%
Administrative expenses	(1,053,099)	(676,136)	55.75%
Other charges	(1,039,060)	(694,461)	49.62%
Operating cost	(3,777,123)	(2,448,789)	54.24%
Other income	91,352	26,364	246.50%
Profit from operations	10,218,049	6,939,589	47.24%
Finance cost	(1,492,830)	(1,150,049)	29.81%
Profit before taxation	8,725,219	5,789,540	50.71%
Taxation	(2,541,554)	(1,468,848)	73.03%
Profit after taxation	6,183,665	4,320,692	43.12%
Basic and diluted earnings per share (Rupees)	5.76	3.93	46.56%

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