Kohat Cement returns to profit in 3Q

Pakistan’s Kohat Cement has posted a net profit of PKR1.059bn (US$6.92m) in the quarter ending 31 March 2021, compared with a PKR381.08m loss in the same period last year.

Total sales for the period advanced 163 per cent YoY to PKR6.71bn against PKR2.55bn in the 3QFY19-20. Record high industry dispatches and an increase in the company’s production capacity along with higher domestic retention all contributed to the overall growth during the period.

For the nine-month period ended 31 March 2021, the company recorded a net profit of PKR2.53bn compared with a PKR283.3m loss in the year-ago period.

Source : CEMNET