Fauji cement posts profit of Rs 4.4 Billion in 2021-2022

Business

Fauji Cement Company Ltd posted a net profit of Rs4.4 billion for 2021-22. It includes income originating from the erstwhile Askari Cement Ltd with earnings per share calculated on the basis of the post-merger number of shares (2.2bn).

Fauji Cement Company Ltd, situated in Pakistan, had sales of PKR54,243m (US$227m) in the fiscal year ending 30 June 2022, up from PKR24,271m the previous year. Operating profit increased from PKR5053m to PKR11,982m in a year, while profit increased from PKR3471m to PKR7112m.Earnings per share in the fiscal year ending 30 June 2022 were PKR3.26, up from PKR2.52 in the previous fiscal year.

Solar power plant

The board of directors has also approved the construction of an 11.25MW solar power plant at its Nizampur location. The PKR1600 million project will be finished in the first half of 2023. This will increase Fauji Cement’s solar power capacity to 40 MWe.

IMS Research

According to IMS Research, FCCL has generated significant earnings since acquiring Askari Cement. These larger benefits will enhance market share and elevate the company’s overall profitability in the future.

KE income dips

Consolidated earnings of K-Electric Ltd clocked in at Rs8.4bn for 2021-22, down 29.3pc from a year ago. Its annual revenue amounted to Rs346.3bn, up 35.8pc on a year-on-year basis.

You May Also Like

TECNO Launched Camon 19 Pro in Pakistan with 64MP Bright Night Portrait Camera with RGBW Technology and 0.98mm Slimmest Bezel
Pakistan Stock Exchange Limited partners with Sofcom Private Limited, to digitalize their HR functions through Harmony – HCM Platform.

Tech & Telecom

Business

Education