Tokyo Cement Co (Lanka) sees 76% increase in 2Q revenues

Tokyo Cement (Co) Lanka plc posted a 76 per cent YoY increase in revenues to LKR11,442m (US$31.8m) in the three months ended 30 June 2022 (2QFY22-23). In the equivalent quarter of the previous year revenues stood at LKR6503m.

The company’s gross profit increased by 285 per cent YoY to LKR3299m in the 2QFY22-23 when compared with LKR856.6m in the year-ago period. Profit before interest and taxation was up 272 per cent YoY to LKR2256m from LKR606.3m.

However, finance expenses of LKR2224m and income tax expenses of LKR95.4m saw Tokyo Cement Co (Lanka) report a total loss of LKR33.4m in the 2QFY22-23.