Attock Cement Pakistan Limited Reports Decreased Quarterly Profits

Islamabad: Attock Cement Pakistan Limited (ACPL) has reported a significant decrease in its quarterly profits, according to its latest unaudited financial statement for the quarter ended September 30, 2024. The company’s revenue from contracts with customers was reported at PKR 6.43 billion, a decline from PKR 6.66 billion in the same period last year.

The gross profit for the quarter stood at PKR 1.10 billion, down from PKR 1.13 billion year-over-year. Distribution costs and administrative expenses were slightly down, contributing to the reduced operational costs. The profit from operations, however, saw a notable drop from PKR 389.24 million to PKR 197.19 million, primarily due to the absence of a gain on disposal of a subsidiary that had boosted the previous year’s figures by PKR 2.13 billion.

According to information available from the Pakistan Stock Exchange (PSX), Attock Cement’s financial costs also decreased, totaling PKR 131.55 million compared to PKR 37.34 million a year earlier. After accounting for income tax and levies, the net profit for the period amounted to PKR 61.91 million, significantly lower than the PKR 1.54 billion recorded in September 2023.

The earnings per share (EPS) for the quarter were PKR 0.45, a stark decrease from PKR 11.23 in the corresponding quarter of the previous year.

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