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FCCL posts Rs 1.18 EPS in nine months of fiscal year 2013

  • Fauji Cement Company (FCCL) on Tuesday announced 9MFY13 Earning Per Share (EPS) of Rs 1.18 against Rs 0.11 of the same period last fiscal year. FCCL’s new production line enabled it to post volumetric growth of 26 percent. Aided further by rising net retention price, the company recorded topline growth of 56 percent to Rs 11.6 billion as against Rs 7.5 billion during the corresponding period last year, analysts said. 

    They said that revenue per ton of the company rose by 24 percent to Rs 6,311 as against Rs 5,082 during the same period previous year while cost per bag inched up 8 percent. This resulted in gross margins expansion by 10pps to 32 percent. Benefiting from lower interest rate environment FCCL’s finance cost came down by 4 percent to Rs 1.15bn. 

    “In 3QFY13 the company posted profit of Rs 647 million (EPS Rs 0.49) as against Rs 562 million (EPS Rs 0.42) in 2QFY13, up 15 percent,” they said. Despite contraction in margins at gross level, lower financial charges that stems from slower declining interest rates and PKR devaluation as against USD to be the prime imputes for FCCL’s profitability growth in 3QFY13, they added. 

    Copyright Business Recorder, 2013

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