Fauji Fertilizer’s post-tax profit dips to Rs2.13bn

RECORDER REPORT

KARACHI: The profit after tax of Fauji Fertilizer Bin Qasim has declined to Rs2.13 billion in the nine month period ended September 30 this year against Rs7.169 billion earned in the corresponding period in 2011.

The company’s earning per share reduced to Rs2.28 in the period under review against Rs7.88 in the same period last year.  The board of directors of the company in a meeting held on October 18 in Brazil recommended first interim cash dividend at Rs2.25 per share i.e., 22.5 percent. 

According to financial results sent to Karachi Stock Exchange, the company’s net turnover decreased to Rs29.208 billion in the nine month period this year against Rs36.321 billion in the same period last year while cost of sales increased to Rs22.778 billion against Rs22.565 billion.

The company’s profit before taxation declined to Rs3.122 billion in the nine month period this year against Rs10.891 billion in the same period last year.