Fauji Cement Company Limited (FCCL), a major cement manufacturer, has released its financial results for the quarter ending on September 30, 2023. The company reported a profit of Rs. 2.61 billion, a 13 percent increase from the previous year, with no dividend payouts for this period.
Net sales for 1QFY24 reached Rs. 20.3 billion, a 38.2 percent rise from the same period last year.
FCCL noted a 14 percent increase in domestic demand, a 48 percent rise in exports to Afghanistan, and an overall 16 percent increase in 1QFY24. Dispatches increased by 25 percent, with a 64 percent capacity utilization.
The net finance cost surged to Rs. 1 billion, a significant jump of 346 percent, while the company recorded an income tax expense of Rs. 1.39 billion during the quarter.
The earnings per share (EPS) stood at Rs. 1.07 per share, compared to Rs. 0.94 (re-stated) in 1QFY23. FCCL’s stock price on the exchange was Rs. 13.4, marking a 5.85 percent increase, with a turnover of 10,407,500 shares at the time of reporting.
