Karachi: DG Khan Cement has reported an after-tax profit figure of PKR 829 million for the third-quarter (ended March 31, 2019), as compared to PKR 1.3 billion for the same quarter during 2018.
The profits fell by 35% despite a higher turnover – as per a report sent by the manufacturer to the Pakistan Stock Exchange (PSX).
The company recorded higher revenues because of the increase in its sales volumes. It had recently started exporting the stock from its Hub plant. The profits, however, fell because of cement prices which have been sluggish.
The rupee depreciation has also been identified as one of the causes of DG Khan Cement’s lower profits. The company faced high production costs, as a result, which it could not pass onto consumers.
The company’s turnover stood at PKR 11 billion in the Jan-Mar 2019 quarter, as compared to Rs 8 billion for same period last year. The gross profit, meanwhile, stood at PKR 1.8 billion; as against the PKR 1.9 billion figure recorded for 2018.
