Lucky Cement earns Rs 26.53 billion by March 31, 2022.

ISLAMABAD -- On a consolidated basis, Lucky Cement Limited reported the profit after tax to date of Rs 26.53 billion of which Rs 5.81 billion was attributable to non-controlling interests for the nine months ended on March 31, 2022.

This translates into earnings per share (EPS) of Rs 64.07 / share as compared to Rs 56.36 / share reported during the same period last year.

Further, on a consolidated basis, the Company achieved gross turnover of Rs 265.70 billion which is 31.2% higher as compared to the same period last year's turnover of Rs 202.46 billion.

During the 9 month of 2021-22 under review, the Company's consolidated net profit (attributable to owners' of the Holding Company) increased by 13.7% as compared to the same period last year.

Despite the challenges due to increasing production costs across all segments, the Group has been able to secure double-digit growth in its profitability.

The increase in Net Profit was mainly attributable to impressive performance of the Group's chemicals business and overseas cement segment. The Group's Polyester, Pharmaceutical and Animal Health segments were able to secure growths of 30.4%, 56.7% and 95.9% respectively in operating results, versus same period last year, on the back of enhanced volumes, better sales mix and new product launches in the pharmaceutical segment.

This increase is in addition to the one-off unrealized gain on acquisition of controlling shares in NutriCo Pakistan amounting to Rs 1.85 billion. On the other hand, the Group's joint venture cement production facility in Samawah, Iraq, which started its commercial production in March 2021, has also added healthy profits to the Group's profitability.

During the outgoing quarter, a major milestone was achieved when Lucky Electric Power Company Limited - a wholly owned subsidiary of Lucky Cement, achieved the Commercial Operations Date (COD) of its 660 MW coal-fired power project on March 21, 2022. The addition of 660 MW to the national grid will not only play a key role in increasing the energy security and prosperity of Pakistan but will also go on to reduce the cost of electricity and reliance on imported fuel in the long run after the completion of Phase III of SECMC in June 2023.

On unconsolidated basis Company's local sales volumes posted a decline of 3.4% to reach 5.51 million tons during 9M 2021-22. The marginal decline for the Company versus negligible change in the industry numbers was mainly due to other cement plants...

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