Dankotuwa Group continues commendable performance | Page 2 | Sunday Observer
Records impressive performance in Q2 with Rs. 267 m PBT

Dankotuwa Group continues commendable performance

4 December, 2022

Dankotuwa Porcelain PLC (DPL) recorded impressive results for 1H of the financial year 2022/2023 according to the latest financial results released to the Colombo Stock Exchange.

The Group demonstrated a noteworthy performance by posting an impressive second quarter (2Q) results to achieve this feat.

For the quarter ended September 30, 2022, Dankotuwa Porcelain PLC as a Group (which includes its subsidiary Royal Fernwood Porcelain Limited) recorded a revenue of Rs. 1.42 bn, which was a 69% growth compared to the 2nd quarter of 2021/2022.

The Group achieved an overall Gross Profit (GP) of Rs. 603 mn, with 100% growth compared to the Rs. 301 mn achieved in the corresponding quarter of the last financial year. Group recorded a PBT of Rs. 267 mn for second quarter which showed an increase of 177% growth from the corresponding period last year. 

Continuing the growth momentum, during the financial year 2022/23 as far as results achieved for the first six months was concerned, the Group recorded a revenue in the first half stood at Rs. 2.84 bn, a 75% increase, when compared to the Rs. 1.62 bn, achieved during the corresponding period last year.

The Group achieved a Gross Profit (GP) of Rs. 1.21 bn which was 111% compared to Rs. 576 mn achieved for the first half of the financial year 2021/22. PBT for the Group of Rs. 635 mn for the first half (H1) of 2022/23 when compared to Rs. 157 mn achieved during the corresponding period last year. The Groups’ local sales in Sri Lanka increased by 133% for the H1 compared to the corresponding period in the financial year 2021/22, while global sales have recorded a 54% increase. 

Dankotuwa Porcelain posted a revenue of Rs. 854 mn, for the second quarter, an increase of 51% in the comparative period of last year. The Company’s PBT achieved was Rs. 251 mn, which was 146% increase compared to the Rs. 102 mn achieved, while PAT for the said period was Rs. 211 mn for the quarter under review, which was an 151% increase against the comparative period of last year.

The main subsidiary of the Group Royal Fernwood Porcelain Limited, recorded a revenue of Rs. 562 mn for the Q2 of the financial year 2022/23 resulting in a commendable 109% growth this quarter, which contributed positively towards the overall performance of the Group. The Company had previously undergone a restructuring and realigned business verticals which had enabled the positive convergence of resources contributing to the positive results during the said quarter.