Thatta Cement receives an offer to explore minerals
Thatta Cement has informed Pakistan Stock Exchange (PSX) that the Director General Mines and Minerals of Baluchistan has granted a provisional offer to Thatta Cement to explore minerals in District Lasbella, Baluchistan Province of Pakistan.
Company Secretary, Muhammad Abid Khan, added in a regulatory filing that under the said offer, the Licensing Authority has offered two sites in Lasbella, measuring a total area of 185.85km2 (45,928.06 acres) under an “Exploration License” for exploration of limestone, shale/clay and other cement manufacturing materials.
Financial result for FY21-22
Meanwhile, Thatta Cement Co has announced its consolidated financial results for FY21-22. It reported a profit after tax of PKR86m (US$0.37m) compared to PKR266m earned in the corresponding period last year, a fall of 67.6 per cent in profit YoY.
The company’s net sales increased to PKR4.39bn from PKR2.78bn during this accounting period. Its administrative expenses rose to PKR121m compared to PKR102m in the corresponding period last year. It incurred a lesser distribution cost of PKR58m against PKR77m in the same period the previous year.
Published under Cement News