APCL: Profits going south – Mettis Global Link

October 26, 2022 (MLN): Attock Cement Pakistan Limited (ACPL) witnessed a 26.5% YoY decrease in its consolidated web profits to Rs275.3 million (EPS: Rs1.54) in initial quarter of fiscal year 2022-23, in opposition to the internet earnings of Rs373.32mn (EPS: Rs2.42) attained in the identical interval final 12 months (SPLY).

Heading by the assertion issued to PSX, the best line of the company observed an boost of only 15% YoY to Rs6.6bn in profits.

The slender maximize in profits is generally attributable to the significant hikes in retention rates which were countered by a 44% YoY drop in offtake to 335k tons specified monsoon rains and flooding throughout the state, a report by Arif Habib noted.

The gross margins in 1QFY23 settled at 16% when compared to 18% in SPLY owed to volumetric decline, bounce in coal selling prices, and greater vitality tariff as the plant was shut down for half a quarter so lessen usage of waste heat restoration plant extra to the woes, and PKR depreciation.

Distribution expenses remained flat at Rs371.26mn, admin charges improved by 35% YoY and monetary rates inflated by about 3x YoY to Rs156mn.

Notably, the optimistic highlight is a 90% YoY boost in other money to Rs81.8mn for the duration of the interval underneath evaluation.

On the taxation entrance, the efficient tax amount of the enterprise for the time period stands at 17% in comparison to 18% in the corresponding time period past calendar year.

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Posted on:2022-10-26T11:14:23+05:00


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