KARACHI: Dewan Cement Limited (DCL) posted a profit after tax of Rs235 million in the second quarter ended December 31, up by a massive 99% compared with Rs118 million in the same period of the previous year, according to a company notice sent to the Pakistan Stock Exchange (PSX).
Earnings per share (EPS) increased to Rs0.43 from an EPS of Rs0.174 in the period under review. Similarly, the company’s profit in the first six months (Jul-Dec) also improved to Rs537 million in fiscal year 2016-17, up 75% compared to Rs307 million in the same period last year.
Dewan Cement’s share price came down to Rs27.62, down 5% from its last day’s closing price. The KSE-100 index closed at 48,520, down 487 points or 0.99% on Monday.
Last week, Bestway Cement entered into a non-binding agreement with Dewan Cement for a possible acquisition of its north plant.
Published in The Express Tribune, February 28th, 2017.
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