Monday, April 15, 2024

Fauji Cement earns Rs3.47 billion in profit

The profit per share (EPS) of 3.47 billion Rs2.52 for the year ended 30 June 202, in comparison to losses of Rs59.38 million and losses per share of 4 paisas for the previous year, is reported by Fauji Cement Company Limited (FCCL). The company has announced no payment for the results, a stock exchange filing on Monday.

Revenues for FY21 increased by 40.85 per cent to Rs24.27 billion, compared to FY20’s Rs17.23 billion. The analyst at Arif Habib Limited said: “In the year 21, growth in topline was 10% up on shipments of 3,38 million tonnes, combined with [improving] retention pricing.”

“The topline of the FCCL saw a major 80 percent upturn to Rs6.7 billion in the fourth quarter of FY21 and a 27 percent off-take up to 897 kt, coupled with a significant increase in holding pricing, and a decrease in FED and Northern Region prices.”

Other revenues during the year amounted to Rs 81,7M or 126%, but the financial costs fell 53% to Rs109,6M because of the current low interest rate regime, respectively.

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