18 Sep, 2020 05:30 am

DGKC posts Rs2.22bln FY20 loss

DGKC posts Rs2.22bln FY20 loss
KARACHI: DG Khan Cement Company Limited on Thursday announced a loss of Rs2.229 billion for the year ended June 30, 2020, mostly owing to a drastic drop in dispatches.The cement-make had earned...

Analysts at the brokerage Arif Habib Limited, in a report said, “The company topline during 4QFY20 dropped 26 percent YoY to Rs7.5 billion owing to weak retention prices together with 15 percent YoY decline in total dispatches”.“During FY20, revenue witnessed a dip of 6 percent YoY to Rs38 billion as erosion in retention prices offset the 14 percent YoY growth in volumes of (7,202k tons vs.Further, the report said the company’s finance costs dipped 5 percent YoY to Rs994 million in the quarter under review given cut in interest rates.

2 percent given weakness in retention prices, volumetric decline and costs associated with the new line,” brokerage said in its report.”The brokerage analysts said the gross margins in 4QFY20 jumped by 289bps YoY/622bps QoQ to 6.

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