The directors of Kohat Cement Co have issued the unaudited condensed interim financial statements for the first quarter ended 30 September 2024. The report reveals that during this period, the company experienced a 22.3 per cent decline in sales volume, totalling 591,620t. However, net profit surged to PKR3.439bn (US$12.39m) after tax, marking a remarkable increase of 54.28 per cent YoY. The company attributes this strong profit to improved sales prices and effective cost management, enhancing gross profit. Additionally, income from surplus cash funds contributed significantly to the increase in net profits.
Projects
The company reported that infrastructure development is underway for the greenfield cement line in Khushab, Punjab. Once the economic outlook improves, the import of plants and machinery will be finalised.
The company reported the successful installation and commissioning of a 10MW solar power plant on renewable energy. Furthermore, Kohat Cement is establishing an additional 10MW solar power plant at its site in Kohat, for which solar panels and other major equipment have already been procured. A contractor has been engaged to install a 6MW system, which is expected to be completed by December 2024. This solar power project will further decrease reliance on the National Grid and will provide sustainable power.
Additionally, concerning the coal-fired power plant at the company's site in Kohat, the Board has approved the establishment of a ~30MW coal-fired power plant. Contractors have been engaged, and opening a Letter of Credit is underway. The installation and commissioning of this facility are anticipated to take approximately 18 months.
By Abdul Rab Siddiqi, Pakistan.
