Lahore: Pioneer Cement Limited (PIOC) reported a 10% year-on-year (YoY) increase in earnings for the first quarter of fiscal year 2025 (1QFY25), totaling PkR1.0 billion, translating to earnings per share (EPS) of PkR4.5. This marks an improvement from PkR0.9 billion (PkR4.2 EPS) in the same period last year, driven by a significant reduction in finance costs.

According to AKD Securities Limited, revenue for Pioneer Cement in 1QFY25 amounted to PkR7.9 billion, reflecting a 9% YoY decline from PkR8.7 billion in the same quarter of the previous fiscal year. The revenue decrease was attributed to a 23% drop in offtakes, although this was partially offset by a 17% increase in retention prices compared to the previous year.

Gross margins remained stable at 30.4% YoY, as the rise in royalty rates counterbalanced the impact of higher retention prices. Meanwhile, administrative expenses increased by 72% YoY due to inflationary pressures affecting operational costs.

Finance costs fell significantly by 48% YoY to PkR493 million from PkR950 million in the same period last year, supported by a 38% reduction in the company’s outstanding debt and a decline in KIBOR rates.