Cement performance aids Pakistan Stock Exchange's record 2023 profitability

Pakistan Stock Exchange saw record profitability in 2023 amid the cement performance. The profitability of the KSE-100 index continues to soar to new heights, posting a robust growth of 51 per cent YoY in 2023.

According to AHL Research, the increase in profitability during the period was attributable to a surge of 82, 60, 55 and 47 per cent YoY growth in banks, E&Ps, power and fertilisers, respectively. The cement sector also saw an index gain during this period.

An analyst said that the cement bottom line surged by 38 per cent YoY to PKR100bn (US$357.7m) amid higher retention prices and lower coal prices, offsetting the impact of volumetric decline (-1 per cent YoY), hike in energy tariff and currency depreciation.