Dewan Cement reports PKR115m loss in 1QFY23-24

Pakistan cement producer Dewan Cement Ltd (DCL), subsidiary of Mega Conglomerate Ltd, announced its financial results for the 1QFY23-24, which ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a loss after taxation of PKR115m (US$0.414m) against a loss of  PKR681m during this period. The loss can be attributed to the high cost of sales during this period despite increased revenue. 

Its net sales increased to PKR5.61bn from PKR3.53bn. Similarly, the cost of sales rose to PKR5.31bn from PKR3.85bn during this period. The company incurred a lesser distribution cost of PKR24m against PKR35m. Still, the administrative expenses increased by PKR289m from PKR244m during this period.