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April 13, 2021

Kohat Cement announces Rs1.059bln net profit

Business

 
April 13, 2021

Kohat Cement has posted a net profit of Rs1.059 billion translating into earnings per share (EPS) of Rs5.27 for the quarter ended March 31, 2021 compared with the loss

of Rs381.08 million in the same period last year.

“The recovery in profitability is likely a product of increase in domestic retention, which rose 18 percent to Rs597/bag, higher domestic dispatches and lower interest rates,” Yusuf Rahman at KASB Securities said in a report.

Total sales for the period under review clocked in at Rs6.71 billion, up 163 percent compared with sales of Rs2.55 billion in the corresponding period last year.

Record high industry dispatches and an increase in the company’s production capacity along with higher domestic retention aided the overall top-line growth during the period.

The finance cost declined 32.14 percent to Rs119.27 million due to low interest regime. “Financial charges dipped on account of a lower debt balance resulting from a significant improvement in the company’s cash-flows,” Yusuf said.

For the nine-month period ended March 31, 2021, Kohat Cement posted a net profit of Rs2.53 billion translating into EPS of Rs12.60 as against the loss of Rs283.3 million and loss per share (LPS) of Rs1.41 in the same period last year. The company did not announce any payouts along with the corporate results.