Attock Cement Pakistan sees 135% PAT surge in FY23-24

Attock Cement Pakistan Ltd (ACPL) earned a profit after tax (PAT) of PKR3.56bn (US$12.8m) in FY23-24 compared to PAT of PKR1.51bn in the same period last year, according to the company's filing to the Pakistan Stock Exchange (PSX). The profit expanded by 135 per cent during this period due to higher sales and was mainly due to the gain in sales of the subsidiary ‘Saqr Al Keetan for Cement Production Co Ltd’ compared to the previous year.

Net revenue jumped to PKR28.53bn from PKR25.47bn during the accounting period, a 12 per cent YoY growth. Administrative expenses increased to PKR791m, and distribution costs increased to PKR2.59bn from PKR727m and PKR1.88bn during the same period last year. Finance costs in FY23-24 rose by 18 per cent YoY to PKR186m on the back of elevated policy rate.