Lucky Cement profit grows 49 percent

Attention: open in a new window. PDFPrintE-mail

Lucky Cement (LUCK) on Monday has announced its 9MFY13 result. The company booked profits of Rs 7billion (EPS of Rs 21.59) versus Rs 4.7 billion (EPS of Rs 14.49) in 9MFY12 - an increase of 49 percent YoY.

The result is above our expectations (EPS of Rs 20.44) mainly due to lower effective tax on account of deferred tax, analysts said.

They said the company revenues increased by 16 percent YoY in 9MFY13, on the back of a 14 percent YoY jump in net retention price. Local cement dispatches of the company rose 2.8 percent YoY to 2.77 million tons while export sales declined by 1.1 percent YoY to 1.66 million tons.

Hence, total dispatches stood at 4.43mn tons, up by 1.3 percent YoY. COGS/ton on the other hand only increased by three percent YoY allowing the company to record a gross margin of 44 percent as against 38 percent recorded in the same period last year. In 3Q alone, the company posted a PAT of Rs 2.7bn (EPS: Rs 8.32), translating into a growth of 18 percent QoQ and 61 percent YoY, they added.

Courtesy: Business Recorder

Forex open Market rates & comments Archive

Login Form