Fauji Cement Company Ltd notified its 9MFY21 financial results where it posted Net Profit of PKR2.6 billion (Earnings Per Share: PKR1.89), marking an increase of 860% YoY as comapred to net profit of PKR 272 million (EPS: PKR0.20) in same period last year. For March-2021 quarter alone, Net profit clocked in at PKR 1bn (Earnings Per Share: PKR0.73).
Significant increase in FCCL profit is due to 38% increase in cement retention prices, 9% increase in volumteric dispatches of cement bags, and decrease in Finance Cost.
Gross margins for the quarter increased to 30% as higher prices during the quarter helped the company. For 9MFY21, gross margins averaged at 26% against 7% for 9MFY20.
For March-2021 Quarter, FCCL achieved Sales growth of 51%YoY due to improvement in Volumetric dispatches and higher rices. For 9MFY21, Sales of the company increased by 30%YoY to PKR17.5billion.
FCCL finance cost declined by 40% YoY in 9MFY21 due to decline in debt cost of the company given 625bps policy rate cut by SBP.
Furthermore, FCCL operating income increased by 106% in 9MFY21 to PKR 152million.
|PKR in Millions||9MFY2021||9MFY2020||% Change|
|Profit from operations||3,842||425||804%|
|Profit before taxation||3,753||275||1265%|
|Profit after taxation||2,610||272||860%|
|Earnings per share||1.89||0.20|
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