Power Cement Limited (PSX: POWER) has reported a net profit of Rs32.4 million for the half-year ended December 31, 2024, marking a significant turnaround from.. The post Power Cement posts Rs32.4mn profit in H1FY25, reversing loss appeared first on Mettis Global Link.
February 13, 2025 (MLN): Power Cement Limited (PSX: POWER) has reported a net profit of Rs32.4 million for the half-year ended December 31, 2024, marking a significant turnaround from the loss of Rs469.8mn in the same period last year.
The company’s earnings per share (EPS) improved to Rs0.15 from a loss of Rs0.64 per share, signaling a strong recovery in operational performance despite revenue pressures.
Power Cement’s revenue from contracts with customers stood at Rs13.82 billion in H1 FY24, reflecting a 17.96% decline from Rs16.85 billion in H1 FY23.
The decline in revenue was attributed to lower sales volumes and pricing pressures in the cement industry.
However, cost optimization efforts led to a 21.6% reduction in the cost of sales, bringing it down to Rs10.08bn, which helped mitigate the impact on gross profit.
As a result, gross profit for the period stood at Rs3.75bn, a marginal decline of 6.2% compared to Rs3.99 billion in the corresponding period last year.
Selling and distribution expenses saw a notable reduction of 10.77%, dropping to PKR 1.37 billion from PKR 1.53bn in H1 FY23.
However, administrative expenses surged by 32.57% to Rs289.91mn, reflecting increased operational costs.
A significant improvement came from other income, which amounted to Rs26.29mn compared to an expense of Rs309.7mn in the previous period, supporting overall profitability.
The company’s finance cost dropped by 25.27% to Rs1.90bn from Rs2.55bn in H1 FY23, driven by improved financial management and debt servicing strategies.
Finance income also grew by 23.38% to Rs14.48mn.
Consequently, profit before taxation and levy rebounded to Rs214.43mn from a loss of Rs602.47mn in the same period last year.
Taxation expenses for H1 FY24 stood at Rs135.73mn, compared to a tax reversal of Rs209.95mn in H1 FY23.
The levy also declined by 40.07% to Rs46.33mn.
| Interim Statement of Profit and Loss (unaudited) for the half year ended (Rupees in '000) | 31-Dec-24 | 31-Dec-23 | %Change |
| Revenue from contracts with customers | 13,822,103 | 16,847,334 | -17.96% |
| Cost of sales | (10,076,593) | (12,853,329) | -21.60% |
| Gross profit | 3,746,510 | 3,994,005 | -6.20% |
| Selling and distribution expenses | (1,367,212) | (1,532,291) | -10.77% |
| Administrative expenses | (289,906) | (218,687) | 32.57% |
| Other income / (expense) | 26,292 | (309,701) | |
| Profit from operations | 2,103,663 | 1,933,326 | 8.81% |
| Finance income | 14,481 | 11,737 | 23.38% |
| Finance cost | (1,903,717) | (2,547,530) | -25.27% |
| Profit / (loss) before taxation and levy | 214,427 | (602,467) | |
| Levy | (46,328) | (77,303) | -40.07% |
| Taxation | (135,730) | 209,953 | |
| Profit / (loss) after taxation and levy | 32,369 | (469,817) | |
| (Loss) / earnings per share – Basic & diluted | (0.15) | (0.64) |
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Posted on: 2025-02-13T09:55:04+05:00
The post Power Cement posts Rs32.4mn profit in H1FY25, reversing loss appeared first on Mettis Global Link.
