CHCC: 1HFY20 LPS clocked in at
Topline depicted the trend witnessed by volumes where a QoQ/YoY increase in dispatches for 2QFY20 resulted in topline increasing by 12/36% QoQ/YoY while increased dispatches for 1HFY20 (68%) on YoY basis led to an increase of 35%YoY in sales.
Gross margins for 2QFY20 increased to 9.3% for the quarter against 4.2% in 1QFY19 on the back of recovery in prices and demand however they remain low compared to 19.3% witnessed in 2QFY19 as price competition between the players continues to impart its effect.
Finance cost sank the ship for the company, standing at
Company recorded negative taxation of
We expect the depressed profitability to continue with fickle pricing scenario and increasing costs in the backdrop. Our TP of
© Pakistan Press International, source