D.G. Khan Cement Company Limited (PSX DGKC) announced its financial result for 1QFY24 today, posting an unconsolidated profit after tax (PAT) of Rs. 661 million, up by 70 percent year-on-year (YoY) compared to a PAT of Rs. 389 million in the same period last year.

The company did announce any dividend payouts for its shareholding for the period in review.

Topline during 1QFY24 clocked in at Rs. 16.5 billion, displaying a jump of 22 percent YoY compared to Rs. 13.58 billion in SPLY, amid a rise in retention prices in tandem with higher dispatches rising by 7 percent YoY to arrive at 1.174 million tons, according to Arif Habib Limited.

Gross margins for 1QFY24 surged to 20 percent vis-a-vis 15 percent as compared to the same period last year. This is mainly because of a reduction in coal prices along with a surge in cement prices.

Finance costs rose by 31 percent YoY to clock in at Rs. 2 billion in 1QFY24 on the back of higher borrowing costs.

The company booked effective taxation at 39 percent in 1QFY24 versus 33 percent in 1QFY23.

The earnings per share (EPS) of the company came in at Rs. 1.51 compared to an EPS of Rs. 0.89 in SPLY.

DGKC’s scrip at the bourse closed at Rs. 53.65, up 1.51 percent or Rs. 0.8 with a turnover of 4,189,282 shares on Monday.

Source: Pro Pakistani