Lotte Chemical Pakistan Limited (LOTCHEM) disclosed its 1QCY2021 financial result with net profit of PKR 1.69 billion (up by 2,726%YoY). No dividend was announced with the result. The financial result is above the analyst expectations.

The company’s profitability increased by due to 20% YoY decline in gas prices owing to removal of GIDC and stability in PK-US$ exchange rate. Moreover, the PTA-PX Margins remained above the break even level during the quarter. LOTCHEM posted sales of PKR 14.67mn in 1Q2021, making an increase of 25%YoY.

Net Other income declined by 77%YoY during the quarter owing to other expenses.

Finance cost increased during the quarter.

(PKR in Million)Mar’21Mar’20% YoY
Gross Profit2,263(113)2103%
Distribution expense(29)(25)17%
Admin Expense(115)(106)8%
Other Operating Income -Net78338-77%
Finance Cost(98)10-1080%
Profit Before Tax2,295832665%
Profit After Tax1,639582726%
Earning per Share1.080.04


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