Islamabad October 25 2023: Fauji Cement (FCCL) profit surged 13% to Rs. 2.6 billion in Q1 of fiscal year 2024 compared to same period last year, according to company filing to exchange.
The 1st Quarter of FY 24 saw a considerable increase of 14% year on year in the industry domestic demand along with 48% increase in Exports to Afghanistan and an overall increase of 16%. The Company’s overall dispatches increased by 25% with a capacity utilization of 64%.
The Company earned a Profit After Tax of Rs. 2.6 billion compared to Rs. 2.3 billion in same period last year showing an increase of 13%.
The management continued its focus on implementing cost optimization initiatives including an increase in the use of local coal, higher usage of alternative fuel, increasing captive solar generation capacity to 40MW, which along with use of Waste Heat Recovery Power Plant’s fulfills almost 60% of Company’s requirement during the daytime operations. All Cement Plants
of FCCL now have the solar captive power capacity. ln addition, fixed cost rationalization has also contributed to the achievement of the above results.
D.G. Khan Expansion. lhe Greenfield Expansion at D.G. Khan is expected to be completed in 2nd Quarter FY 24, which will increase the company’s produdion capacity and thereby its
market share.
