The directors of Thatta Cement Co Ltd (TCCL) have released a financial report and the company’s audited financial statements for the fiscal year ending 30 June 2024.
In the FY23-24, the company achieved a 22.6 per cent increase in local cement dispatches compared to the previous year. An impressive 39 per cent rise matched this surge in volume in revenue. The revenue growth is largely due to a significant increase in cement retention prices. This price adjustment enhanced the company’s income and demonstrated its ability to respond to market conditions and optimise financial performance effectively. The strong results highlight the company’s successful strategy of leveraging pricing to boost profitability and solidify its position in the competitive market.
The company experienced a dramatic increase, rising to 28.9 per cent from the previous year’s 7.8 per cent gross profit margin during the year under review. Thatta Cement posted a profit after tax of PKR15014m (US$54m), compared to PKR249m (US$0.89m) last year.
By Abdul Siddiqui, Pakistan
