Karachi October 18 2022: Maple Leaf Cement Factory Limited (MLCF) profitability jump 2.2 times in first quarter of fiscal year 2023 despite lower sales and higher coal prices, according to the company filing to the exchange.
Company share price gains 58 paisa or 2.1% after the announcement to trade at PKR 28.25 at PST 9:58.
Company earned profit of PKR 1,210 million in the first quarter of fiscal year 2023 compared with profit of PKR 562 million in the same quarter last year. Sales of the company witnessed at PKR 12,827 million when compared with PKR 9,895 million in the same period last year.
Gross profit of the company jump to PKR 3,569 million from PKR 1,928 million in the same period last year. However, coal prices increased from USD 95 per ton last year to trade around USD 300 per ton in this quarter.
During the first three months of current fiscal year, total country cement despatches (domestic and exports) were 9.613 million tons that is 25.04 percent lower than 12.825 million tons despatched during the corresponding period of last fiscal year, according to the data released by All Pakistan Cement Manufacturers Association.
About the Company
Maple Leaf Cement Factory Limited was incorporated in Pakistan on 13 April 1960 under the Companies Act, 1913 (now the Companies Ordinance, 1984) as a public company limited by shares. The principal activity of the Company is production and sale of cement. The Company is a subsidiary of Kohinoor Textile Mills Limited (“the Holding Company”).
