Dewan Cement’s profit up 207% to Rs516 million

KARACHI: Dewan Cement Limited posted a net profit of Rs516 million in the third quarter ended March 31, up 207% from Rs168 million in the same period of previous year, according to a company notice sent to the Pakistan Stock Exchange (PSX) on Thursday.

Earnings per share (EPS) increased to Rs1.01 in Jan-Mar FY17 from Rs0.08 in the corresponding period of previous year. Dewan Cement’s stock price closed up 5% at Rs25.88 at the PSX. However, in the broader market, the KSE 100-share Index ended lower by 345 points or 0.69% at 49,481.

Cumulatively, in the first nine months of fiscal year 2016-17, earnings of the cement manufacturer came in at Rs1.05 billion (EPS Rs1.99), up 122% from Rs474 million (EPS Rs0.80) in the corresponding period of previous year. Dewan Cement has an installed production capacity of 1.76 million tons per annum.

Published in The Express Tribune, April 28^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.