Reduct­ion in PSDP, discou­nt on cement sales impact the earnin­gsKARACHI: Maple Leaf Cement Factory Limited’s (MLCF) after-tax profit plummeted 50% in the quarter ended March 31, 2019 owing to sluggish demand. The cement company reported a profit of Rs557 million compared to Rs1.12 billion in the same quarter of 2018, according to a notice sent to the Pakistan Stock Exchange. Earnings per share (EPS) of the company stood at Rs0.94 in the Jan-Mar 2019 quarter against Rs1.89 in the same quarter of previous year. Cost of sales inched down from Rs4.7 billion to Rs4.6 billion in the Jan-Mar 2019 quarter due to weak sales caused by rupee depreciation. Profit from operations was calculated at Rs3.4 billion compared to Rs5 billion in the same period of previous fiscal year.

Source: The Express Tribune April 26, 2019 04:09 UTC