Lucky Cement's Profits Soar by 109% in July-December
Lucky Cement, a leading cement manufacturer in Pakistan, has reported a remarkable 109% increase in its profit-after-tax.
Pakistan. Lucky Cement, a leading cement manufacturer in Pakistan, has reported a remarkable 109% increase in its profit-after-tax, amounting to Rs38.32 billion during the half-year that ended on December 31, 2023.
This substantial growth is attributed to higher sales and lower cost of sales. The company's net revenue also saw a significant uptick, increasing by nearly 12% to Rs206.52 billion. Despite a rise in the cost of finance, the company's other income surged by 227%.
Lucky Cement's dispatches rose by 23% year-on-year, reaching 4.41 million tons in 1HFY24, driven by factors such as the addition of a new line in Pezu, increased exports, and a lower base in the previous year.
On a consolidated basis, the company's Earnings per Share (EPS) jumped to Rs117.19 against Rs49.23 in the same period of the previous year.
Source: Business Recorder
