Dewan Cement posts losses in 1QFY20

Dewan Cement Ltd (DCL) of Pakistan has announced its financial results for the 1QFY20 ended 30 September. It incurred a net loss of PKR62m (US$398,189) as compared to profit of PKR184m earned in the same quarter last year. The fall in profit was attributed to a decline in sales during the reporting period.

The company incurred a lesser distribution cost of PKR28m against PKR30m in the same period last year. However, administrative expenses increased to PKR147m from PKR106m. The company’s sales also decreased by PKR1.7bn from PKR2.9bn in the same period last year.