Lahore: Pioneer Cement has reported a decline in sales and profit for the first quarter of the fiscal year 2025, despite efforts to reduce costs, according to its corporate briefing session. The company disclosed key financial figures and production statistics, highlighting challenges in both domestic and international markets.

On September 30, 2024, Pioneer Cement's gross turnover stood at 11,845.76 million Pakistani rupees, reflecting a decrease of 243.06 million rupees from the same period in 2023. Net turnover also fell, reaching 7,890.61 million rupees compared to 8,712.23 million rupees the previous year. The company managed to reduce the cost of sales by 572.07 million rupees, leading to a gross profit of 2,400.84 million rupees, down from 2,650.39 million rupees in the prior year.

According to information available from the Pakistan Stock Exchange (PSX), Pioneer Cement's domestic dispatches for the first quarter of fiscal year 2025 totaled 463,000 tons, marking a significant decline of 22.96% compared to the previous fiscal year. International market sales data was not provided for the quarter.

The company's operating profit for the quarter decreased by 313.03 million rupees to 2,117.40 million rupees. Finance costs were reduced substantially by 457.03 million rupees, resulting in a profit before tax of 1,676.82 million rupees, an increase of 142.24 million rupees from the same quarter in 2023. After accounting for taxation, net profit after tax was reported at 1,022.86 million rupees, an increase of 89.84 million rupees from the previous year.

Pioneer Cement's total assets as of the end of the quarter were valued at 85,078 million rupees, with shareholders' equity amounting to 22,313 million rupees. The company reported a revaluation reserve of 23,358 million rupees and deferred liabilities totaling 21,343 million rupees.

Earnings per share rose to 4.50 rupees from 4.11 rupees in the previous year, despite the overall decrease in sales and operating profit.