Gharibwal Cement's 1QFY18 profits fall to PKR269m

Gharibwal Cement Ltd (GCL) announced its financial results for the 1QFY19 on 29 October. It posted a decline in profit to PKR269m (US$20,194), down by 10.6 per cent YoY, as compared to PKR301m reported in the same period last year.

GCL's sales during the quarter decreased by 7.9 per cent YoY to PKR2.47bn from PKR2.69bn reported during the same period last year.

The company incurred lower administrative expenses of PKR98m and higher distribution costs of PKR9.3m compared to PKR99m and PKR5.2m, respectively in the corresponding period last year.

The company has a cement capacity of 2.11Mta in Jehlum, Punjab.