Islamabad, Aug 27: The financial results for the year ended June 30, 2024, have been released by Fauji Cement Company Limited (PSX: FCCL). The company reported a profit after tax (PAT) of Rs. 8.2 billion, up 14% YoY from Rs. 7.2 billion in the same period the previous year. This is the company’s highest-ever yearly profit, even with an additional charge of deferred tax amounting to Rs 1.8 billion due to the most recent tax law amendment, which changed the income tax on exports from presumptive tax (deducted at the time of export realization) to normal tax.
Along with the results, FCCL announced a final cash dividend for the year at Rs. 1 per ordinary share,with 5.1 million tons shipped in FY 24 compared to 4.8 million tons in SPLY, the company’s dispatches increased by 10% (YoY). With an 18% YoY rise, the company’s net revenue during FY 24 was Rs. 80 billion, up from Rs. 68 billion previous SPLY. Compared to 30 percent in SPLY, the gross profit margin grew to 32 percent.
This is mostly due to increased export volumes and better sale prices in the local market, as well as cost-cutting measures implemented by the management. growing use of regional coal, utilizing a variety of alternative fuels, The entire gains were attained by minimization of fixed expenses and an increase in own power generation to offset the 35% rise in power tariffs.
In FY24, FCCL reported earnings per share of Rs. 3.35, while SPLY reported an EPS of Rs. 3.16. The company’s share price on the exchange was Rs. 22.42 at the time of reporting, up 3.22 percent or Rs. 0.7 with 25.2 million shares on Tuesday.
