DGKC profit up nine percent

KARACHI: DG Khan Cement Company Limited’s second quarter net profit went up nine percent amid an increase in its sales.

In its condensed interim consolidated profit and loss account statement issued to Pakistan Stock Exchange on Thursday, DGKC declared profits of Rs2.66 billion in the quarter ended December 31, 2016, up against Rs2.44 billion during the last year.

Earnings per share (EPS) stood at Rs6.08 as against Rs5.58 during the same period of the last year. Because of higher demand of cement in the local market, total sales remained at Rs8.62 billion during this period, up 8.2 percent as compared to Rs7.97 billion last year.

The cost of sales remained at Rs5.11 billion against Rs4.83 billion; thus, gross profit was declared at Rs3.51 billion against Rs3.14 billion last year. DGKC posted other income of Rs708.25 million against Rs868.38 million. For the six-month period ended December 31, 2016, DG Khan Cement announced profit of 4.39 billion, up 14.5 percent against Rs3.83 billion during the same period of the last year.