Profits surge at Dankotuwa Porcelain

Dankotuwa Porcelain PLC, renowned for its luxurious and world class porcelainware, has posted strong results for the Q1 of the financial year 2022/2023. Anchor

As a company, Dankotuwa Porcelain PLC, recorded a revenue of Rs. 788.4 million for the Q1 of the financial year 2022/23, a 56 per cent growth when compared to Rs. 504.4 million achieved during the corresponding period, it said in a statement. 

Further, the company achieved a Gross Profit (GP) of Rs. 374.1 million, which was an 86 per cent growth compared to Rs. 201.46 million achieved for the same period of the last financial year. The Profit before Tax (PBT) for Dankotuwa, as a company, was Rs. 207.52 million, compared to Rs. 55.81 million made during the first quarter of the previous financial year 2021/22.

Dankotuwa Porcelain PLC as a group (which includes its subsidiary Royal Fernwood Porcelain Limited) posted a revenue of Rs. 1.42 billion, an 81 per cent growth compared to Rs. 787.67 million achieved last year for the same period. The group further achieved a Gross Profit (GP) of Rs. 610.55 million, a 122 per cent growth compared to Rs. 275.5 million and Profit before Tax (PBT) of Rs. 367.77 million, an increase compared to Rs. 60.26 million and Profit after Tax (PAT) of Rs. 298 million.

Channa Gunawardana, CEO of Dankotuwa Porcelain PLC, said, “We’ve navigated through turbulent phases over the past years and are very pleased to announce the commendable performance of the organisation. It has been a tough journey paved by the pandemic, lockdowns, economic and political distress, and disruptions. Amidst all these difficulties, we have emerged strong and positive, demonstrating our resilience and our willingness to accept challenges and forge ahead with commitment and determination.”