Pioneer Cement's net gains in 1HFY19 suffer at the hands of higher costs

Dec-18

Dec-71

% change

 Sales gross

Cement - Local

 7,052,695

 6,510,888

8.32%

Cement - Export

 234,456

 151,524

54.73%

Clinker - Local

 -  

 353,091

Clinker - Export

 1,243

 -  

 7,288,394

 7,015,503

3.89%

Less:

Sales Tax

 (1,145,063)

 (1,122,574)

2.00%

Federal Excise duty

 (1,027,681)

 (957,270)

7.36%

Commission

 (16,964)

 (16,562)

2.43%

Discount and rebate

 (42,001)

 (24,046)

74.67%

 (2,231,709)

 (2,120,452)

5.25%

Sales - net

               5,056,685

               4,895,051

3.30%

Cost of sales

              (3,878,441)

              (3,417,910)

13.47%

Gross profit

 1,178,244

 1,477,141

-20.23%

Distribution cost

                   (86,595)

                   (69,221)

25.10%

Administrative expenses

 (56,706)

 (43,763)

29.58%

Other expenses

                 (147,046)

 (238,924)

-38.45%

Other income

                    18,338

                      9,299

97.20%

 (272,009)

 (342,609)

-20.61%

Operating profit

 906,235

 1,134,532

-20.12%

Finance cost

 (169,374)

 (49,837)

239.86%

Profit before taxation

                  736,861

               1,084,695

-32.07%

Taxation

 (209,900)

 (347,501)

-39.60%

Profit after taxation

 526,961

 737,194

-28.52%

Earnings per share -  basic and diluted (Rs.)

                                  2.32

                                  3.25

-28.62%