Thatta’s WHR project to start in 2QFY19-20

Pakistan-based Thatta Cement Co Ltd is currently implementing its waste heat recovery project that will generate 5MW of electricity for the company at its Sindh plant. Commercial operation is expected to start in the second quarter of the current financial year, says the company in its latest quarterly report.

In the quarter ended 30 September 2019, overall sales of Thatta Cement fell by 43.3 per cent YoY due to a decrease in sales in the south.

The cost of sales to sales ratio has increased to 90.91 per cent in the quarter when compared with 82.82 per cent in the corresponding quarter of the previous financial year. The change has been attributed mainly to fixed cost charged as period cost in line with the International Financial Reporting Standards, due to a lower clinker capacity utilisation rate. Rising packing material, transportation and other input costs further impacted results. Distribution costs fell 40.5 per cent YoY in the quarter due to the decline in sales. The company reported a loss of PKR11.5m (US$74,021) in the 1QFY19-20.