Pakistan-based Power Cement Ltd posted PKR7.182bn (US$52.5m) in revenue for the quarter ended 31 March 2025 (3QFY24-25), down 11.2 per cent when compared with the 3QFY23-24, when revenues reached PKR8.092bn, according to the company's unaudited results statement. 

However, profit from operations advanced by 65.4 per cent YoY to PKR1.172bn in the (3QFY24-25) from PKR708.7m supported by a lower cost of sales and selling and distribution expenses.

The company's net result also improved considerably to a profit of PKR315.558m from a loss of PKR717.094m in the 3QFY23-24, bolstered by lower net finance costs of PKR623.758m in the 3QFY24-25, when compared with PKR1.346bn in the previous year's equivalent period. This was due to lower interest rates and sponsors' support, said the company.

9MFY24-25 results
In the first nine months of FY24-25, revenues declined by 15.8 per cent to PKR21.004bn from PKR24.939bn as Power Cement saw reduced deliveries. 

Total dispatches fell by 18.9 per cent to 1.667Mt in the 9MFY24-25 from 2.056Mt in the year-ago period. Of this total, domestic cement and clinker dispatches slipped by three per cent to 1.017Mt from 1.048Mt. Cement exports were down 7.7 per cent YoY to 259,043t from 280,586t while clinker exports dropped by 46.3 per cent YoY to 390,622t from 727,085t. 

Profit from operations increased to PKR3.275bn in the 9MFY24-25, up 24 per cent YoY from PKR2.642bn. 

Power Cement's total net result improved from a loss of PKR1.187bn to a profit of PKR347.927m. 

The company's clinker production declined by 19 per cent YoY to 1.477Mt in the 9MFY24-25 from 1.823Mt in the year-ago period. Cement output slipped by 5.1 per cent YoY to 1.233Mt from 1.3Mt over the same period.

Challenging times
Pakistan's cement industry was impacted by slow economic growth in the 9MFY24-25 period with dispatches falling 0.4 per cent YoY to 34Mt. Domestic deliveries dropped 5.4 per cent to 27.5Mt, due to subdued local demand in the first quarter, said the company. In addition, Power Cement reported depressed export prices for clinker.  

However, in the 2Q and 3QFY24-25 there was a pick-up in demand, which is expected to continue going forward. Meanwhile, Pakistani cement and clinker exports surged 28 per cent YoY, attributed by Power Cement to stronger international demand with increasing prices.