Earnings Report /
Pakistan

Lucky Cement: 1QFY22 – higher COGS amid better inventory management lead to earnings beat

  • LUCK has posted an unconsolidated NPAT of PKR3.3bn (EPS: PKR10.15) for 1QFY22, up 122% yoy and 25% qoq

  • LUCK has posted consolidated NPAT of PKR6.65bn (EPS: PKR20.57), up 53% yoy, higher than our expected EPS of PKR13.62

  • Gross margins are up 0.5ppt qoq but down 0.6ppt yoy to c.27.3%. The margins came in well above our estimate of 18%

Intermarket Securities
28 October 2021