Engro Fertilizer's profit up 47pc

ISLAMABAD: Profit of Engro Fertilizers Limited (EFERT) surged 47 percent to Rs4.102 billion for the half-year ended June 30, 2017, translating into earnings per share (EPS) of Rs3.07.

The EFERT recorded a profit of Rs2.793 billion and EPS of Rs2.1 during the same period a year ago, said a press statement issued here, which added that Engro Fertilizer also announced an interim dividend of Rs2.5/share.

The company's sales revenue rose 22 percent during the half year ended June 30 to Rs27.31 billion over the last year's period.

The other income of EFERT income also rose a massive 58 percent to Rs3.274 billion on the back of higher subsidy recognition of urea and diammonium phosphate.

Engro Fertilizer posted a net profit of Rs2.445 billion, translating into EPS of Rs1.83 for the quarter ended June 30 compared with the profit of Rs672.537 million and EPS of Rs0.51 in the corresponding quarter last year.