Dewan Cement reports 60% fall in net profit

Pakistan’s Dewan Cement Ltd (DCL) has announced its financial results for the third quarter ended 31 March, reporting a 59.6 per cent YoY decline in net profit to PKR394m (US$2.78m) from PKR975m.

The company’s net sales fell 8.5 per cent to PKR9.46bn from PKR10.34bn during the 3QFY18-19. It also incurred a higher distribution cost of PKR175m, against PKR158m of the year-ago period. Administrative expenses rose to PKR472m from PKR412m.

DCL has a cement capacity of 1.76Mta in Dhabeji, Sindh District, and 1.134Mta at Hattar in Khyber Pakhtunkhwa province.