D G Khan Cement earns profit of Rs4.09 billion

KARACHI: D G Khan Cement has declared a final cash dividend of Re1 for the year ended June 30, 2021, as the company posted a net profit of Rs4.09 billion, translating into the earnings per share (EPS) of Rs8.96.

D G Khan Cement had posted a net loss of Rs2.22 billion and the loss per share of Rs5.05 in the previous year.

The company posted net revenues of Rs49.07 billion during FY21, up 17.98 per cent, compared with Rs41.59 billion recorded in the corresponding year.

“[The] revenues increased due to 3 per cent increase in dispatches and 15 per cent surge in retention prices. The gross margins expand to 18 per cent versus 4.2 per cent previous year,” an analyst at Insight Securities said.

Other income increased 4 per cent to Rs2.56 billion in FY21, due to a meagre increase in dividend from the MCB Bank. The finance cost declined 36 per cent, attributable to lower interest rate during the period under review.

The company’s board of directors also approved a working capital loan of Rs1 billion extended to Nishat Hotels and Properties Limited at the markup rate of one-month Kibor plus 1 per cent for a period of one year.