KARACHI: On a consolidated basis, Lucky Cement Limited reported the highest profit after tax to date of PKR 22.15 billion of which PKR 3.93 billion is attributable to non-controlling interests for the nine months ended March 31, 2021.
This translates into earnings per share (EPS) of PKR 56.36 / share as compared to PKR 14.38 / share reported during the same period last year.
Further, on a consolidated basis, the Company achieved gross turnover of PKR 202.46 billion which is 63% higher as compared to the same period last year’s turnover of PKR 123.99 billion. During the 9M 2020-21 under review, the Company’s consolidated net profit (attributable to owners’ of the Holding Company) increased by 292% as compared to the same period last year. The increase in Net Profit was mainly attributable to increase in profitability of the Cement segment (Holding Company) which grew by 3 times due to higher turnover and better efficiencies from new line at North. The increase in the consolidated Net Profit was further supported by considerable increase in Net Profit of Lucky Motor Corporation, which reported revenue of 3.5 times the revenue of corresponding period. The other subsidiaries, ICI Pakistan Limited and LCL Investment Holdings Limited also posted significant increase in profitability mainly attributable to growth in sales revenue.
On a standalone basis Company’s overall sales volumes posted a high double digit growth of 31.1% to reach 7.61 million tons during 9M 2020-21. The local sales volumes grew by 38.8% to reach 5.71 million tons in comparison to 4.11 million tons during the same period last year. Also, the export sales volumes of the Company increased by 12.3% to 1.90 million tons as compared to 1.69 million tons during the same period last year.
Copyright Business Recorder, 2021
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