Thatta Cement's profit falls

Thatta Cement Co Ltd's (TCCL) financial results for the half year ended 31 December 2017 saw a profit after tax PKR321.66m (US$2.9m), compared to PKR405.79m earned in corresponding period last year – showing a fall of 20.7 per cent in profit on YoY basis.

The company's net sales stood at PKR1.73bn compared to PKR1.77bn in 6MFY16. It incurred a distribution cost of PKR35.43m against PKR45.49m in 6MFY16. Its administrative expenses stood at PKR70.50m compared to PKR69.83m corresponding period of last year.

5MW waste heat recovery project
The arrangement of financing for the WHR project was finalised last year with the syndicate of banks and a letter of credit has been established in favour for the supply of plant and machinery for the project at Ghulamullah Road, Makli, District Thatta, Sindh. The plant has a cement capacity of 488,250tpa.