Cherat Cement reported an increase in profit by 25% in FY23-24

Cherat Cement Co Ltd of Pakistan has announced its financial results for the year ended 30 June 2024. It reported an increase in profit after tax to PKR5.49bn (US$) from PKR4.40bn earned in the corresponding period last year. This reflects a growth of 24.9 per cent YoY, which was possible during this period due to higher sales, according to financial results posted on the Pakistan Stock Exchange (PSX) on 22 August 2024. The fall in financial cost also contributed to a strong profit.

The company’s net sales increased by 2.8 per cent, to PKR38.43bn from PKR37.38bn during this period. It incurred a higher distribution cost of PKR760m against PKR606m during this period, and administrative expenses also increased from PKR500m to PKR436m in FY23-24.