Lucky Cement closes Q1 with Rs. 2.669 billion profit after tax
30th October 2014, Karachi Lucky Cement Limited leads the cement industry by declaring a 4.8 % rise in its net profit for the first quarter of the year 2014-15. It recorded a profit of Rs. 2.669 billion which is 4.8% higher than the corresponding period last year.
The earnings per share (EPS) for the corresponding period increased to Rs. 8.25 against an EPS of Rs. 7.87 of corresponding period last year. The company’s gross profit increased by 5.9% during the quarter as its net sales revenue improved by 12.2% to Rs. 10.470 billion against Rs. 9.332 billion of the corresponding period last year.
The local sales volume during the quarter registered a growth of 13.4% that rose to 0.965 million tons as compared to 0.850 million tons of same period last year. An indepth analysis shows that the per ton cost of sales increased by 7.4% during the quarter under review mainly due to an increase in the cost of fuel and packing material.
During the quarter under review, the combined sales revenue of Lucky Cement Limited increased by 12.2% which was mainly attributed to 9.2% increase in volumes. The market share of Lucky Cement also increased by 4.3%, attributed to 3.3% increase in local market share and a 12.6% increase in export share as compared to the corresponding period last year.
To enhance its cement quality, Lucky Cement will be completing its vertical-roller-mill project by the second quarter of this fiscal year. Lucky Cement also announced the successful operations of its Joint Venture grinding plant in Iraq, which posted a net profit of USD 3.207 million for the first quarter of FY14-15.
Meanwhile, Lucky Cement has been actively pursuing its social-responsibility by supporting various educational and poverty-reduction programs across the country including rehabilitation of IDPs.