DG Khan Cement records Rs1.32 billion profit in 2QFY22

KARACHI: The profit after tax of DG Khan Cement Company Limited (DGKC) recorded an increase of 1 per cent to Rs1.32 billion translating into the earnings per share (EPS) of Rs3.03 during the quarter ended December 31, 2021.

The company posted a profit of Rs1.30 billion (EPS: Rs2.98) during the same period last year.

The board of directors of the company announced no cash dividend for the period.

During the second, the sales of the company increased 39 per cent to Rs17.14 billion due to better retention prices during the period.

The cost of sales of DGKC increased 47 per cent to Rs14.21 billion, compared with Rs9.67 billion during the same period last year.

Other income of the company increased by 2.6x, attributable to lower base effect as there was a moratorium placed on MCB’s dividend (associate company) during the same period last year.

The financial costs increased 7 per cent to clock-in at Rs846 million, as compared with Rs805 million during the same period last year.

The effective tax rates clocked in at 24.6 per cent against 16.3 per cent during the same period last year.