Gharibwal Cement Ltd (GWLC) announced its 3QFY26 results, reporting earnings of PKR530m (US$1.9m), a 13 per cent YoY increase but a 44 per cent QoQ decline. The YoY growth was driven by higher sales and a lower effective tax rate, according to a BMA Research report.
The topline rose 11 per cent YoY to PKR5.4bn but fell 11 per cent QoQ. Higher cement prices and dispatches contributed to the YoY growth, while the QoQ decrease was due to lower dispatches. Local dispatches reached 0.35Mt, up 10 per cent YoY but down 15 per cent QoQ.
GWLC's gross margin was 18.7 per cent, down from 20.6 per cent YoY and 26.8 per cent QoQ. Distribution costs surged 528 per cent YoY and 852 per cent QoQ to PKR181m. Net finance income increased 70 per cent YoY to PKR 74m but fell 16 per cent QoQ. Other income decreased 72 per cent QoQ to PKR1m. The effective tax rate was 35.8 per cent, compared to 41.3 per cent YoY and 33.6 per cent QoQ.
by Abdul Rab Siddiqi, Pakistan
