DG Khan Cement announces INR2.29bn profit, up 16%

DG Khan Cement on Friday announced a net profit of INR2.29bn (US$34.32m) in the third quarter of fiscal year 2015-16 (3QFY16), up 16 per cent compared to INR1.98bn in the same period of the previous year.

Earnings per share jumped to INR5.25 from INR4.52 last year.

This took the cumulative nine-month (Jul-Mar) earnings to INR6.38bn, up 18.7 per cent compared to net profit of INR5.38bn in the same period of previous year.

The company’s revenues showed a robust increase of 22 per cent year-on-year in 3QFY16 due to rise in cement sales and consistently lower input costs (coal and electricity).

The increase in sales was primarily driven by domestic demand as exports continued to weaken in the current financial year to date. This resulted in higher profitability for the company.