Thatta Cement reports profit in 1HFY23-24

Pakistan cement producer Thatta Cement Co Ltd (THCCL) has announced its financial results for the half year ended 31 December 2023 (July-December 2023) on the website of the Pakistan Stock Exchange (PSX). Its reported profit after tax was PKR358m (US1.28m) against a loss of PKR6.2m in the corresponding period last year. The recovery from losses can be attributed to higher sales and significant improvement in gross profit during this period.

THCCL's net sales increased to PKR3.12bn from PKR2.40bn from PKR2.40bn during this period. It incurred a lesser distribution cost of PKR27m against PKR40m, but administrative expenses rose to PKR84m from PKR71m in 1HFY22/23.

Thatta Cement Ltd is the smallest player in Sindh, with a capacity of 577,080t.