Karachi: D.G. Khan Cement Company Limited has released its financial results for the first quarter ended September 30, 2023. The results were approved and announced following a Board of Directors meeting held on October 28, 2023, in Lahore.

For the quarter, D.G. Khan Cement Company Limited reported unconsolidated sales of PKR 16,517,097 thousand, compared to PKR 13,584,833 thousand for the same period in the previous year. The cost of sales stood at PKR 13,303,952 thousand, resulting in a gross profit of PKR 3,213,145 thousand. Administrative expenses were reported at PKR 285,199 thousand, selling and distribution expenses at PKR 509,124 thousand, and other expenses at PKR 75,055 thousand. Other income for the quarter was reported at PKR 826,509 thousand, and finance cost was PKR 2,087,480 thousand. Profit before taxation was PKR 1,082,796 thousand, and after accounting for taxation of PKR 422,239 thousand, the profit for the period amounted to PKR 660,557 thousand, resulting in earnings per share of PKR 1.51.

On a consolidated basis, the company reported sales of PKR 17,624,124 thousand, cost of sales at PKR 14,235,003 thousand, resulting in a gross profit of PKR 3,389,121 thousand. Administrative expenses were PKR 318,580 thousand, selling and distribution expenses were PKR 510,293 thousand, and other expenses were PKR 81,371 thousand. The changes in fair value of biological assets were PKR 115,935 thousand, and other income was PKR 866,210 thousand. After a finance cost of PKR 2,255,621 thousand, the profit before taxation stood at PKR 1,205,401 thousand. Accounting for taxation of PKR 480,326 thousand, the consolidated profit for the period was PKR 725,075 thousand. This profit was attributed to equity holders of the parent to the tune of PKR 696,063 thousand and to non-controlling interest of PKR 29,012 thousand, resulting in earnings per share of PKR 1.59.

The Board of Directors announced that there would be no cash dividend, bonus issue, right shares, or any other entitlement/corporate action or price sensitive information for the period.

The financial results, along with the required disclosure form in terms of Section 96 of the Securities Act, 2015, have been transmitted through PUCARS for circulation amongst the TRE Certificate Holders of the Exchange.