Thatta Cement profits fell by 67.59% in FY22

MG News | September 30, 2022 at 11:20 AM GMT+05:00

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September 30, 2022 (MLN): Thatta Cement Company Limited (THCCL), announced results for FY22 wherein the company profits decreased by 67.59% and stood at Rs86.43 million, the company’s stock filings on the stock exchange showed.

In the filing, the company profits decline by 67.59% to Rs86.43mn as compared to Rs267mn in the same period last year, translating into earnings per share of Rs0.99 against Rs2.43 in FY21.

THCCL’s topline showed an increase of 57.59%, to Rs4.39 billion against Rs2.79bn in FY21.

The company’s gross profit decreased by 20.85%, to Rs477mn against Rs603mn in FY21. The decrease in gross profit is mainly due to a 79.3% increase in COGS.

Profit-before-taxation decreased by 61.46% to Rs124mn compared to Rs322mn in the same period last year.

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