Cement News tagged under: indian sub-continent
Kohat Cement Co's profit rises by 25% YoY01 November 2023, Published under Cement NewsKohat Cement Co Ltd (KOHC) has announced its financial result for 1QFY23-24 at the Pakistan Stock Exchange (PSX) posting a profit after tax (PAT) of PKR2.230bn (US$7.92m) compared to a PAT of PKR1.785bn in a year ago period up by 25 per cent YoY. The result, highlights by AHL Research, says that the topline during 1QFY23-24 clocked in at PKR11.064bn, displaying a jump of 25 per cent YoY compared to PKR8.853bn in the year-ago period. This growth in 1QFY23-24 is attributable to an increas... |
Heidelberg Cement earns a net profit of BDT505.10m in 9M2301 November 2023, Published under Cement NewsHeidelbergCement Bangladesh Ltd earned a net profit of BDT505.10m (US$4.58m) in the nine months of January to September 2023 from a loss of BDT241.31m in the same period last year, according to the financial result of the company. The result tabulation shows that higher sales enable it to earn profit as its revenue rose eight per cent YoY to BDT13.86bn during this period. Warehousing, distribution and selling expenses rose more than 23 per cent YoY to BDT367.43m from BDT281.81m and ad... |
Bestway Cement posts PKR3.07bn profit in 1QFY23-2431 October 2023, Published under Cement NewsPakistan Cement producer, Bestway Cement Ltd (BWCL) announced its financial results for the first quarter that ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a decrease in profit after tax to PKR3.07bn (US$1.11bn) from PKR3.30bn in the corresponding period last year. The high cost of fiancé (over PKR3bn) can be attributed to lesser profit during this period. Its net sales increased by 42.65 per cent to PKR36.22bn from PKR25.39bn during this period.... |
Power Cement reports losses in 1QFY23-2430 October 2023, Published under Cement NewsPower Cement Ltd in Pakistan announced its financial results for 1QFY23-24 on the Pakistan Stock Exchange (PSX) website. It posted a loss after tax of PKR540m (US$1.94m) during this period, compared to a loss of PKR271m in 1QFY23. The increased sales could not bring profit to the company account. The company's sales increased to PKR9.73bn in 1QFY23-24 from PKR5.57bn in the year-ago period. Similarly, the cost of sales also increased to PKR7.29bn from PKR4.76bn. It incurred a higher ... |
Dewan Cement reports PKR115m loss in 1QFY23-2427 October 2023, Published under Cement NewsPakistan cement producer Dewan Cement Ltd (DCL) , subsidiary of Mega Conglomerate Ltd , announced its financial results for the 1QFY23-24, which ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a loss after taxation of PKR115m (US$0.414m) against a loss of PKR681m during this period. The loss can be attributed to the high cost of sales during this period despite increased revenue. Its net sales increased to PKR5.61bn from PKR3.53bn. Similarly, the ... |
Fauji Cement Co reports capacity utilisation of 64% in 1QFY23-2427 October 2023, Published under Cement NewsFauji Cement Co Ltd (FCCL) announced its financial results for 1QFY23-24, which ended on 30 September 2023, at the Pakistan Stock Exchange (PSX) on 25 October. The company said that the 1QFY23-24 saw a considerable increase of 14 per cent YoY in the industry’s domestic demand, a 48 per cent increase in exports to Afghanistan and an overall increase of 16 per cent. Thus, the company’s comprehensive dispatches increased by 25 per cent, with capacity utilisation of 64 per cent... |
Pakistan's central bank reports fall in exports in FY22-2326 October 2023, Published under Cement NewsThe State Bank of Pakistan (SBP) released its annual report on the State of Pakistan’s Economy for the fiscal year 2022-23 on 23 October. In a brief review report on cement, the central bank stated that in line with subdued construction activity, cement production declined sharply by 13.7 per cent during FY23, compared to a 3.6 per cent drop in FY22. Furthermore, cement exports declined due to the economic slowdown in destination countries such as Sri Lanka, China and Bangladesh. Mo... |
Adani Cement completes refinancing package26 October 2023, Published under Cement NewsAdani Cement , through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing programme for acquisition debt taken for Ambuja Cements and ACC Ltd , through a US$3500m financing package, raised from a clutch of international banks. This showcases Adani's robust access to the global financial market and strong liquidity position, says the company. “This achievement reflects our commitment to financial stability and growth. This facility will res... |
Cherat Cement reported profits up by 3% in 1QFY23-2425 October 2023, Published under Cement NewsCherat Cement Co Ltd (CHCC), subsidiary of Gulham Faroque Group , has announced its financial results for the 1QFY23-24 ended 30 September 2023. It reported an increase in profit after tax to PKR1.53bn (US$5.47m) from PKR1.48bn earned in the corresponding period last year. This reflects a growth of 3.4 per cent on a YoY basis, according to CHCC financial results posted on the Pakistan Stock Exchange on 23 October. The substantial increase in profitability can be attributed to lower... |
Pakistan's cement and clinker exports grow 44% in 3MFY23-2420 October 2023, Published under Cement NewsPakistan’s cement industry has sustained a noteworthy growth in cement and clinker exports during the first quarter of FY23-24 (July-September 2023) due to the continued depreciation of the Pakistani rupee and the falling coal prices. However, the average value of these exports remained weaker. It fell to US$39.82/t from US$49.23/t but saw a growth in Pakistani rupees during this period. Pakistan’s cement and clinker exports increased by around 43.9 per cent in the 3MFY23-24 to US$66.6... |