19.1 C
New York
Saturday, June 15, 2024

Lucky Cement Achieves Record Profit of Rs. 59.5 Billion in FY23

Date: August 08, 2023

Lucky Cement Limited (PSX: LUCK) has marked a significant milestone by reporting its highest-ever consolidated profit after tax, reaching Rs. 59.5 billion for the fiscal year ending on June 30, 2023. Out of this, an impressive Rs. 10.7 billion is attributable to non-controlling interests.

This remarkable achievement showcases a remarkable year-on-year (YoY) surge of 63.4 percent when compared to the corresponding period of the previous year (SPLY).

Accompanying the announcement of its financial outcomes, the Company’s Board of Directors has put forth a proposal for a final cash dividend of Rs. 18 per share.

LUCK highlighted that this extraordinary profit increment encompasses a gain from the disposal executed by its subsidiary, Lucky Core Industries. The subsidiary divested about 26.5 percent of the issued and paid-up share capital of NutriCo Morinaga (Private) Limited, resulting in an after-tax gain of Rs. 9.6 billion.

From a consolidated perspective, Lucky Cement achieved a gross revenue of Rs. 459.5 billion, showcasing a substantial 15.8 percent surge when compared to the previous year’s revenue of Rs. 396.7 billion. This remarkable upswing in gross revenue can be largely attributed to the full year’s commercial activities of Lucky Electric Power Company Limited.

The Company’s tax payment for FY23 amounted to Rs. 12.8 billion, up from Rs. 10.1 billion during SPLY. Additionally, the earnings per share (EPS) for FY23 stood at Rs. 152.9, reflecting an increase from Rs. 91.22 in FY22.

On the financial front, Lucky Cement’s finance cost experienced a significant rise to Rs. 30.6 billion, exhibiting a substantial 359 percent increase compared to the previous year’s figure of Rs. 6.66 billion.

At the time of reporting, LUCK’s stock at the exchange showed positive momentum at Rs. 614, marking an increase of 1.06 percent or Rs. 6.41. A total of 361,582 shares were traded on Tuesday, reflecting the investor interest in the company’s performance.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Stay Connected

500FansLike
3FollowersFollow
700SubscribersSubscribe
- Advertisement -

Latest Articles