MLCF's profits cemented with 18% YoY rise

October 27, 2023 (MLN): Maple Leaf Cement Factory Limited (PSX: MLCF) experienced a rise of 18% YoY in its profits in the first quarter of FY24, earning a profit after tax of Rs1.63 billion [EPS: Rs1.52], compared to a profit of Rs1.38bn [EPS: Rs1.28] in the same period last year (SPLY).

Going by the results, the company's top line rose by 30% YoY to Rs16.68bn as compared to Rs12.83bn in SPLY.

The cost of sales rose by 30.14% YoY but was lesser than proportionate to sales increase, which improved the gross profit by 29.69% YoY to Rs5.23bn in 1QFY24.

Moreover, during the review period, other income soared to Rs75.49m in 1QFY24 as compared to Rs7.87m in SPLY.

On the expense side, the company observed a rise in distribution cost by 52.74% YoY while other charges fell by 12.16% YoY to clock in at Rs1.15bn and Rs335.86m respectively during the review period.

The company’s finance costs increased by 68.52% YoY and stood at Rs945.96m as compared to Rs561.35m in 1QFY23, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs836.44m against the Rs587.58m paid in the corresponding period of last year, depicting an increase of 42.35% YoY.

Amount in thousand except for EPS

MLCF and KSE-100 YTD Performance

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