On a consolidated basis, Lucky Cement Limited reported net profit after tax of Rs 4.65 billion after taking out Rs 1.03 billion attributable to non-controlling interests for the nine months ended March 31, 2020. This translates into earnings per share (EPS) of Rs 14.38/share as compared to Rs 28.64/share reported during the same period last year.

Further, on a consolidated basis, the Company achieved gross turnover of Rs 123.99 billion which is 20.0 percent higher as compared to the same period last year's turnover of Rs 103.32 billion.

On a standalone basis Company's, overall sales volumes declined by 2.6 percent to reach 5.80 million tons during the current nine months ended March 31, 2020. The local cement sales volume registered decline of 7.0 percent and were 4.11 million tons in comparison to 4.42 million tons during the same period last year, however, the export sales volumes of the Company improved by 10.4 percent to reach 1.69 million tons as compared to 1.53 million tons during the same period last year.

Further, with regards to Company's standalone financial performance, the gross sales revenue decreased by 8.3 percent to Rs 47.95 billion compared to Rs 52.32 billion reported during the same period last year.

This was mainly due to lower sales volumes as a result of competition arising from new capacities and low retentions due to higher transportation and logistics costs. Furthermore, Lucky Cement recorded net profit after tax of Rs 2.94 billion, which is 64.6 percent lower as compared to same period last year. Similarly, the standalone EPS of the Company is Rs 9.08/share as compared to the same period last year's reported EPS of Rs 25.65/share.

The Company reported progress on the greenfield investment project for producing 1.2 million tons of clinker at Samawah, Iraq and investment projects of 1 X 660 MW supercritical coal based power project at Port Qasim.-PR