Pakistan’s largest cement producer, Lucky Cement Ltd, announced its financial results for 1QFY24-25 on the Pakistan Stock Exchange (PSX) website on 28 October. The company posted unconsolidated earnings of PKR6.562bn (US$23.6m), a five per cent YoY decline compared to PKR6.929bn in the same period last year. On a consolidated basis, net profit settled at PKR17.927bn compared to PKR17.706bn in the equivalent period of the previous year, a slight increase of one per cent YoY.
The AHL Research review on the result adds that the topline of Lucky in the 1QFY24-25 arrived at PKR29.822bn, seeing an uptick of two per cent YoY in contrast to PKR29.382bn in the 1QFY23-24, on the back of higher retention prices.
Selling and distribution expenses in 1QFY24-25 soared by 35 per cent YoY, settling at PKR2.35bn due to the axle load factor.
Finance costs in 1QFY24-25 decreased by six per cent yearly to PKR360m amid a fall in policy rates and a decline in long-term debt. The company booked effective taxation of 33 per cent in 1QFY24-25 compared to 34 per cent in the 1QFY23-24.
by Abdul Rab Siddiqi, Pakistan
