KARACHI: Fauji Cement Company Limited (FCCL) reported an 80% increase in profit which stood at Rs801 million for the quarter ended September 30, 2018 compared with Rs444 million for the same quarter last year.
It was due to a 10% growth in net sales as demand jumped to 0.76 million tons of cement. The company’s earnings per share (EPS) stood at Rs0.58 as compared to last year’s Rs0.32.
According to AHL Research, the company registered topline (revenue) growth of 10% to Rs5.3 billion amid a jump in total sales to 0.76 million tons from 0.73 million tons earlier. Cement sales in the domestic market improved 6% to 0.68 million tons. Gross margins of the company widened to 27% from last year’s 17% following rehabilitation of production line-II in October 2017 and commissioning of a nine-megawatt Waste Heat Recovery (WHR) plant in April 2018.
Published in The Express Tribune, October 23rd, 2018.