Karachi, August 8, 2023 – Lucky Cement, a prominent name in the cement industry, has reported a substantial surge of 63.5 percent in its profit after tax for the fiscal year ending on June 30, 2023.
The company’s consolidated financial results, unveiled on Tuesday and submitted to the Pakistan Stock Exchange (PSX), reveal an impressive rise in profits.
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Lucky Cement’s profit after tax for the fiscal year 2022-23 stands at a significant Rs 59.54 billion, marking a considerable increase from the Rs 36.42 billion recorded in the preceding fiscal year. This robust growth underscores the company’s strong financial performance and its effective strategies in navigating market dynamics.
Earnings per share (EPS) have also experienced a remarkable boost. The company announced an EPS of Rs 153 for the year ending June 30, 2023, as compared to Rs 91.22 in the previous year. This improvement in EPS showcases the company’s dedication to delivering value to its shareholders.
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During the fiscal year, the company’s revenue surged to an impressive Rs 459.46 billion, a substantial increase from the previous year’s Rs 396.70 billion. This growth can be attributed to effective operational management and the company’s commitment to meeting market demand.
Cost of sales for the fiscal year 2022-23 amounted to Rs 291.50 billion, compared to Rs 265 billion in the previous year. Despite the increase in costs, Lucky Cement managed to maintain a healthy margin, contributing to its impressive gross profit figures.
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The company’s gross profit for the fiscal year under review reached an impressive Rs 93.63 billion, a substantial leap from the previous year’s Rs 60 billion. This growth highlights the company’s ability to optimize its production processes, manage costs, and generate higher margins.
In a recent meeting held on August 7, 2023, the board of directors of Lucky Cement recommended a cash dividend of Rs 18 per share. This dividend announcement not only reflects the company’s commitment to rewarding its shareholders but also underscores its confidence in its financial position and future prospects.
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Lucky Cement’s exceptional financial results for the fiscal year 2022-23 showcase its resilience and adaptability in a competitive market landscape. The company’s robust growth in profit, EPS, and revenue reaffirms its position as a key player in the cement industry and augurs well for its continued success in the coming years.
