Power Cement reports Rs443mn loss

MG News | October 06, 2022 at 10:15 AM GMT+05:00

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October 6, 2022 (MLN): Power Cement Ltd announced results for FY22 wherein the company’s reported loss-after-tax of Rs443 million compared to a profit of Rs358mn in the corresponding period last year, the company’s filings on the stock exchange showed on Thursday.

The cement manfuacturer’s profitability declined owing to 20% reduction in gross margins to Rs2.48bn against Rs3.09bn in FY22, the decline in gross profit was due to a 35% increase in COGS as prices of coal and other inputs rose significantly during the period under review.

The company’s loss per share clocked in at Rs0.62 from Rs0.17 in FY21.

Revenue saw significant increase of 23%YoY to Rs17.49 billion against Rs14.22bn in FY21.

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