On a consolidated basis, Lucky Cement Limited reported net profit after tax of Rs 9.26 billion after taking out Rs 0.74 billion attributable to non-controlling interests for the nine months ended March 31, 2019, which translates into earnings per share (EPS) of Rs 28.64 / share as compared to Rs 36.91 / share reported during the same period last year. Further, on a consolidated basis, the Company achieved gross turnover of Rs 103.32 billion which is 11.6 percent higher as compared to the same period last year's turnover of Rs 92.60 billion.
On a standalone basis Company's overall sales volumes grew by 1.9 percent to reach 5.95 million tons during the nine months of the current financial year. The local cement sales volume registered a decline of 12.2 percent to come to 4.42 million tons in comparison to 5.04 million tons last year and the export sales volumes of the Company improved by 105.5 percent to reach 1.53 million tons as compared to 0.74 million tons during the same period last year.
Further, with regards to Company's standalone financial performance, the gross sales revenue increased by 3.3 percent to Rs 52.32 billion compared to Rs 50.63 billion reported during the same period last year. The increase in revenue was mainly due to higher export volumes for clinker. Furthermore, Lucky Cement recorded net profit after tax of Rs 8.30 billion, which is 15.4 percent lower as compared to same period last year. Similarly, the standalone EPS of the Company is Rs 25.65 / share as compared to the same period last year's reported EPS of Rs 30.31 / share.
Lucky Cement also shared progress on its brown field expansion for cement production of 2.6 million tons per annum at its Pezu Plant and the green field investment project for producing 1.2 million tons of clinker at Samawah, Iraq. In addition, the Company also reported progress on its investment projects of 1 X 660 MW supercritical coal-based power project at Port Qasim and automobile manufacturing plant under license from KIA Motors Corporation.
Lucky Cement remains committed towards improvement in the society and the communities in which it operates. In this regard, the Company extended numerous scholarships to deserving students for various leading universities in Pakistan and abroad. Keeping in view the importance and impact of women empowerment in Pakistan, the Company in collaboration with Zindagi Trust continued its support for two leading Government girls' schools in Karachi. Providing quality healthcare has always been company's priority and in this regard the company continued its support to Aziz Tabba Foundation and also donated to Shaukat Khanum Memorial Cancer Hospital and Pakistan Welfare Association of the Blind. Lucky Cement always takes serious responsibility towards the environment and in an effort to further highlight the importance of environment conservation, the company continued with its tree plantation drive in and around its manufacturing sites.
With the prevailing economic uncertainties and macro-economic situation, Lucky Cement believes that in short to medium-term, the outlook of the Cement industry will be challenging for the domestic sales. However, exports, sales are expected to remain strong in view of favorable market dynamics and increasing demand for Clinker in the regional countries.-PR
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