Maple Leaf Cement Factory Limited (MLCF) Monday announced its financial results for the 3QFY23.
According to the consolidated financial results, the company posted a profit after tax (PAT) of Rs. 1.87 billion in 3QFY23, down 2 percent from the PAT of Rs. 1.919 billion posted in the same quarter of the previous fiscal year.
The company reported earnings per share (EPS) of Rs. 1.75 in the quarter compared to EPS of 1.79 reported in the same quarter of the previous year.
The decline in the PAT on a quarter-on-quarter basis was even higher and stood at 36 percent.
The company’s sales during 3QFY23 stood at Rs. 17 billion, up 39 percent compared to Rs. 12.22 billion reported in the same quarter of the previous year, led by a hike in retention prices which offset the impact of a 3 percent decline in overall dispatches, according to Arif Habib Ltd.
Gross margins during 3QFY23 came in at 26.8 percent compared to 31.8 percent last year, owed to higher average coal prices, the depreciation of the Pakistan rupee (PKR), volumetric decline, and recognition of costs associated with the new plant.
Finance cost during 3QFY23 arrived at Rs. 409 million, down 22 percent quarter on quarter despite higher interest rates as the company retired some of its borrowings, according to Arif Habib Limited. The company booked effective taxation at 30 percent in 3QFY23 compared to 24 percent in the same quarter of the previous year.
During 9MFY23, the company’s PAT surged to Rs. 6.18 billion, up 32 percent from the PAT of Rs. 4.67 billion reported in the same period of the previous year. The company reported earnings per share (EPS) of Rs. 5.76 in 9MFY23 compared to EPS of 4.36 reported in 9MFY22.
MLFC’s scrip at the bourse was closed at Rs. 26.30, down by 0.83 percent or Rs. 0.22, with a turnover of 3 million shares on Monday.