Lucky Cement posts Rs1.27bn net profit for Q1FY20

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On a consolidated basis, Lucky Cement Limited reported a net profit after tax of Rs1.27 billion after taking out Rs0.25 billion attributable to non-controlling interests for the first quarter ended September 30, 2019, which translates into earnings per share of Rs3.93 as compared to Rs9.14 share during the same period last year.

Further, on a consolidated basis, the company achieved a gross turnover of Rs34.43 billion which is 9.9pc higher as compared to the same period last year’s turnover of Rs31.32 billion.

On a standalone basis, the company’s overall sales volumes declined by 13.6pc to reach 1.64 million tonnes during the first quarter of FY20. The local cement sales volume registered a decline of 19.4pc and were 1.12 million tonnes when compared with 1.40 million tonnes during the same period last year, however, the export sales volumes of the company improved by 2.6pc to reach 0.51 million tonnes as compared to 0.50 million tonnes during the same period last year.

Further, with regards to the company’s standalone financial performance, the gross sales revenue declined by 13.0pc to Rs13.93 billion compared to Rs16.01 billion during the same period last year. The decrease was mainly due to lower sales volume and cut-throat pricing on the back of lower demand and retentions on account of stringent ‘axle load’ limits’ implementation. Moreover, Lucky Cement recorded net profit after tax of Rs955.85 million, which is 61.7pc lower as compared to the same period last year. Similarly, the standalone EPS of the company is Rs2.96 as compared to the same period last year’s reported EPS of Rs7.71.

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