Lahore: Maple Leaf Cement Factory Limited disclosed its financial results for the quarter ended September 30, 2024, revealing a decrease in net profits compared to the same period last year.

In a formal communication to the Pakistan Stock Exchange, the company reported that its consolidated net sales for the quarter stood at 15.72 billion rupees, slightly down from 16.68 billion rupees in 2023. According to information available from the Pakistan Stock Exchange (PSX), the cost of goods sold also saw a reduction, leading to a gross profit of 4.96 billion rupees, compared to 5.23 billion rupees the previous year.

The financial details indicated a drop in profit after taxation to 1.34 billion rupees from 1.63 billion rupees year-over-year. The earnings per share followed this downward trend, standing at 1.28 rupees, down from 1.52 rupees in 2023.

Administrative expenses and other charges were noted as significant contributors to the company's financial performance. Despite a decrease in distribution costs and administrative expenses, the net impairment losses on financial assets and other charges adversely impacted the bottom line.

Maple Leaf Cement emphasized its commitment to maintaining transparency and compliance with the regulatory requirements of the Securities Act, ensuring that all pertinent information was adequately communicated to shareholders and regulatory bodies. The company's stand-alone financial results also echoed the consolidated performance with a decline in profit after taxation and earnings per share.

The decrease in profits highlights the challenges faced by the cement industry in maintaining profitability amidst fluctuating market conditions and operational costs.