Lucky Cement’s earnings jump 21% in 2024

Lucky Cement’s profit-after-tax amounted to Rs72.34 billion, an increase of over 21% during the year 2024, compared with Rs59.54 billion in the previous year on account of higher revenue and lower cost of sales.

The Board of Directors (BoD) in its meeting held on Thursday reviewed the financial performance of the company for the year ended June 30, 2024.

On a consolidated basis, the company’s Earnings per Share (EPS) jumped to Rs220.51 against Rs152.97 during the previous year. The BoD also announced a cash dividend of Rs15 per share.

As per the financial statements, Lucky Cement’s net revenue increased by nearly 7% to Rs410.99 billion as compared to Rs385.1 billion recorded in the previous year.

However, the cost of sales declined to Rs287.48 billion in FY24, as compared to Rs291.49 billion recorded in the previous year.

Resultantly, the gross profit stood at Rs123.52 billion, as compared to Rs93.63 billion, an increase of nearly 32%.

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The company’s cost of finance jumped from Rs30.64 billion to Rs36.69 billion, an increase of nearly 20%.

In FY24, the cement maker’s distribution and administrative expenses rose to Rs23.4 billion, a jump of over 42%, as compared to Rs16.34 billion.

However, the other income of Lucky Cement increased significantly by 74%, clocking in at Rs16.2 billion as compared to Rs9.3 billion in same period last year.

Resultantly, the cement maker’s profit before tax rose to Rs90.3 billion in FY24, as compared to Rs61.5 billion in SPLY, an increase of nearly 47%.

During the period, the company paid taxes to the tune of Rs17.97 billion, an increase of 49%.