Fauji Cement (FCCL) announced 1QFY15 profit of Rs 602 million (EPS Rs 0.45) as against Rs 582 million (EPS Rs 0.44) last year, up 3.4 percent. According to Topline Securities, in 1QFYI5, FCCL recorded revenues of Rs 4.2 billion against Rs 3.9 billion in the same period last year, up 7.6 percent, mainly due to increase in net retention prices and volumetric growth of 1.5 percent.
Local dispatches grew by 5.4 percent to 0.46 million tons during IQFYI5 compared to 0.43 million tons in IQFY14. However, exports during the same period witnessed a decline of 10.9 percent to 0.l2 million tons versus 0.13 million tons in 1QFYI4, mainly due to lower exports to Afghanistan, Topline reported. Pre-tax profits during the same quarter grew by 5.4 percent to Rs 880 million in 1QFY15 versus Rs 835 million in the same quarter last year. On quarterly basis, after-tax profits declined by 4.6 percent to Rs 602 million in 1QFY15 compared to Rs 631 million (EPS Rs 0.30) in 4QFY14, mainly due to lower volumes which declined by 17 percent to 0.6 million tons.