Lucky Cement’s profit after tax has surged to Rs9.5 billion, marking a nearly fourfold increase compared to last year. This impressive growth is attributed to higher revenue and reduced cost of sales.
The company’s Board of Directors recently reviewed the financial performance for the year ending June 30, 2024, and announced a cash dividend of Rs15 per share to shareholders.
On a consolidated basis, the Earnings per Share (EPS) rose significantly to Rs220.51, up from Rs152.97 the previous year. Net revenue increased by 7% to Rs410.99 billion.
This was achieved despite a rise in the cost of finance by 20%, reaching Rs36.69 billion. Distribution and administrative expenses also went up by 42%, totaling Rs23.4 billion.
The cost of sales fell to Rs287.48 billion, which contributed to a 32% increase in gross profit, reaching Rs123.52 billion.
Additionally, other income saw a substantial rise of 74%, amounting to Rs16.2 billion. As a result, the profit before tax increased by 47% to Rs90.3 billion. However, taxes paid also rose by 49% to Rs17.97 billion.
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