Lucky Cement sales increased by 19% in 9MFY23

Lucky Cement Ltd has announced its financial results for the third quarter ending 31March 2023 and the 9MFY23. It reported a profit after tax of PKR11.13bn (US$39.2m) compared to PKR11.3bn earned in the nine months of the corresponding period last year. This reflects a negative growth of two per cent YoY.

According to the company’s notification to the Pakistan Stock Exchange (PSX), its sales increased by 19 per cent to PKR70.34bn from PKR58.89bn during the same period last year. It incurred a higher (six per cent up) distribution cost of PKR3.91bn against PKR3.68bn in the previous fiscal period. The administrative expenses increased (25 per cent) to PKR1.36bn from PKR1.09bn during this period. Finance cost went up to PKR798m, up 195 per cent YoY. 

Meanwhile, the company's 25.3MW solar power project at its Karachi plant has completed commercial negotiations, while the procurement process for necessary equipment has commenced. The project is expected to come online in the 2QFY23-24.