Bestway Cement posts PKR3.07bn profit in 1QFY23-24

Pakistan Cement producer, Bestway Cement Ltd (BWCL) announced its financial results for the first quarter that ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a decrease in profit after tax to PKR3.07bn (US$1.11bn) from PKR3.30bn in the corresponding period last year. The high cost of fiancé (over PKR3bn) can be attributed to lesser profit during this period.

Its net sales increased by 42.65 per cent to PKR36.22bn from PKR25.39bn during this period. It incurred a distribution cost of PKR287m against PKR194m during this period and administrative expenses of PKR 348m compared to PKR12m in 1QFY23.