Gharibwal Cement earns PKR752m in 1HFY17-18

Gharibwal Cement Ltd (GCL) has announced its financial results for the half year ended 31 December 2017. It reported a profit after tax of PKR752m (US$6.7m) compared to PKR1.112bn, a fall of 32 per cent YoY.

According to a notification of the company to the Pakistan Stock Exchange (PSX), GCL's sales decreased to PKR5.47bn from PKR5.52bn during this period. It incurred a distribution cost of PKR10m against PKR13m in 1HFY16-17. The administrative expenses stood at PKR193m compared to PKR183m in the corresponding period of last year.

No dividend was announced by the Board of Directors of Company in their meeting held on 27 February 2018. GCL's plant is situated at Ismailwal, District Chakwal. The plant has production capacity of 2.11Mt of cement.