Fauji Cement Pakistan profits increase in 3QFY18

Fauji Cement Pakistan profits increase in 3QFY18
18 April 2018

Fauji Cement Company Ltd (FCCL) saw a 28 per cent YoY increase in net profit to PKR854m (US$7.3m) in 3QFY18 from PKR669m, earned in same quarter last year, according the company's filing to the Pakistan Stock Exchange (PSX).

Revenues remained flat at PKR5.6bn, as lower retention prices diluted the impact of growth of 11 per cent in local dispatches and 99 per cent YoY in exports. However, cost of sales came down significantly by nine per cent YoY, due to a reduction in clinker purchases after following the commissioning of the 7200tpd Line on 15 October 2017.

FCCL's net sales decreased to PKR5.54bn from PKR5.57bn during this period. It incurred a distribution cost of PKR72.06m against PKR45.05m in 3QFY 2017.  The administrative expenses stood at PKR98.58m compared to PKR76.27m incurred in 3QFY 2017.

FCCL has also commissioned a waste heat recovery power plant for Kiln No I at its 3.43Mta Fateh Jang plant and a Wartsila 9MW captive power plant. This is in addition to a 12MW WHRP already installed at Kiln No 2.

Published under Cement News