DG Khan Cement profit falls in FY19

DG Khan Cement profit falls in FY19
17 September 2019

DG Khan Cement Company Ltd (DGKC) of Pakistan has announced its financial results for FY19 on 16 September. It declared earning of net profit of PKR1.609bn (US$10.3m) (unconsolidated) as compared to PKR8.837bn earned in the same period last year. It shows profit hugely dropped by 81.8 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR35.15bn from PKR21.92bn and finance cost from PKR574m to PKR3.6bn during this period despite increase in sale.

The company sales stood at PKR40.51bn compared to PKR30.66bn in the same period last year.  In a notification to Pakistan Stock Exchange (PSX), DGKC also announced a final cash dividend PKR1.00/share ie 10 per cent.

DGKC incurred higher administrative expenses of PKR628m against PKR624m incurred in the same period last year. The selling and distribution expenses also increased to PKR1.3bn from PKR898m during this reporting period.

DGKC has a cement capacity of 2.11Mta in its Dera Ghazi Khan plant in Punjab, as well as 2.11Mta in the Chakwal works, Punjab, and 2.89Mta in Hub, Baluchistan.

Published under Cement News