Dewan Cement reports losses on higher costs in FY22-23

Dewan Cement reports losses on higher costs in FY22-23
28 September 2023

Dewan Cement Ltd (DCL), subsidiary of Mega Conglomerate Pvt Ltd posted its financial results for FY22-23 on the Pakistan Stock Exchange (PSX) website on 26 September 2023. It reported a loss after taxation of -PKR586m against a loss of -PKR703m reported in a comparative period last year. The lower loss is attributed to the high cost of sales during this period despite better earnings of other income.

According to the company's results, its sales increased to PKR20.19bn from PKR16.51bn, but the cost of sales rose simultaneously to PKR19.75bn from PKR15.29bn during this period. It incurred a lesser distribution cost of PKR136m against PKR228m. The administrative expenses decreased by PKR828m from PKR880m during this period.

Dewan Cement Ltd's cement plant in Hattar, Kyber Pakhtunkhwa, has a capacity of 1.134Mta, while its unit in Dhabeji, Sindh, has a capacity of 1.953Mta.

Published under Cement News