Thatta Cement’s profit doubles in nine months ending March 2025

MG News | April 28, 2025 at 11:31 AM GMT+05:00

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April 28, 2025 (MLN): Thatta Cement Company Limited (PSX: THCCL) recorded a substantial increase of 98.97% in its profit for the nine months period ending March 31, 2025, with an after-tax profit of Rs1.46 billion [EPS: Rs17.95], compared to Rs734.5 million [EPS: Rs9.35] in the same period last year.

The company’s revenue, in the form of net sales, rose by 15.19% to Rs6.3bn, up from Rs5.47bn in the corresponding period of 2024.

This growth was supported by a 29.60% increase in gross profit, which amounted to Rs1.9bn for the period under review.

Cost of sales saw a moderate rise of 9.90%, standing at Rs4.39bn, while selling and distribution expenses declined by 10.99%, totaling Rs38.44m.

Administrative expenses also decreased by 9.21%, amounting to Rs113.99m.

On the income side, other income surged by 117.28%, reaching Rs791.81m, up from Rs364.42m in the same period last year. Operating profit saw a notable increase of 53.94%, totaling Rs2.36bn.

Finance costs were reduced by 8.43%, amounting to Rs167.89m compared to Rs183.36m last year. The company's profit before taxation also experienced a significant increase of 62.40%, reaching Rs2.2bn.

On the taxation front, the company recorded a marginal decrease of 6.64% in current taxes to Rs552.38m, while prior tax adjustments stood at Rs63.38m. Deferred tax expense surged by a remarkable 1662.18%, totaling Rs246.18m.

The profit for the period was attributed mainly to equity holders of the holding company, which saw an increase of 91.96%, standing at Rs1.52bn, compared to Rs792.26m last year. Non-controlling interests accounted for a loss of Rs59.44m.

Earnings per share (EPS) for the period came in at Rs17.95, reflecting a 91.98% increase from Rs9.35 recorded in the same period last year.

Consolidated Statement of Profit and Loss For The Nine Month Ended March 31, 2025 (Rupees '000)
Description	Mar-25	Mar-24	%Change
Sales - gross	8,971,030	7,276,787	23.28%
Sales tax and federal excise duty	(3,076,383)	(1,808,260)	70.13%
Sales - net	6,299,193	5,468,527	15.19%
Cost of sales	(4,395,044)	(3,999,280)	9.90%
Gross profit	1,904,149	1,469,247	29.60%
Selling and distribution cost	(38,441)	(43,185)	-10.99%
Administrative expenses	(113,993)	(125,552)	-9.21%

	1,751,715	1,300,510	34.69%
Other operating expenses	179,063)	(110,146)	62.57%
Expected credit loss allowance		(18,821)	-
Other income	791,811	364,417	117.28%
Operating profit	2,364,463	1,535,960	53.94%
Finance cost	(167,895)	(183,361)	-8.43%
Profit before taxation	2,196,568	1,352,599	62.40%
Taxation
- Current	(552,376)	(591,687)	-6.64%
- Prior	63,382	(12,438)
- Deferred	(246,177)	(13,970)	1662.18%
	(735,171)	(618,101)	18.94%
Profit for the quarter	1,461,397	734,498	98.97%

Profit / (loss) for the period attributable to:
Equity holders of the Holding Company	1,520,842	792,256	91.96%
Non-controlling interests	(59,445)	(57,758)	2.92%
Profit for the period	1,461,397	734,498	98.97%

Earnings per share - basic and diluted (Rupee)	17.95	9.35	91.98%

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