Karachi: Dandot Cement Company Limited has reported a financial turnaround for the fiscal year ended June 30, 2024, with a net profit of PKR 20.43 million, contrasting sharply with a loss of PKR 367.44 million in the previous year. According to information available from the Pakistan Stock Exchange (PSX), this recovery reflects significant operational improvements despite challenging market conditions.

The company's financial documents indicate that total sales rose dramatically to PKR 3.44 billion from no reported sales in the previous year. After accounting for excise duties, sales tax, and discounts, net sales stood at PKR 983.62 million. The cost of sales was reduced to PKR 2.25 billion, yielding a gross profit of PKR 203.63 million.

Operational expenses including distribution and administrative costs totaled PKR 81.40 million, down from PKR 34.75 million the previous year. This reduction contributed to an operating profit of PKR 122.23 million. Other operating income also saw an uptick, contributing PKR 3.06 million to the profit line.

The finance cost for Dandot Cement was reported at PKR 392.91 million, a slight reduction from the previous year's PKR 240.27 million. After adjustments for taxation, which considerably decreased to PKR 288.04 million, the company recorded its net profit, marking a substantial recovery.

The earnings per share (EPS) also reflected this positive outcome, with a basic EPS of PKR 0.08 compared to a loss per share of PKR 1.48 in 2023.

Dandot Cement has announced that it will not be issuing any cash dividends, bonus issues, rights shares, or any other entitlements for this fiscal year. The company's shares transfer books will be closed from October 22, 2024, to October 28, 2024, in preparation for the upcoming annual general meeting scheduled for October 28, 2024, in Lahore.