LAHORE: The Board of Directors of Fatima Fertilizer Company Limited on Thursday announced its financial results for the third quarter ended September 30, 2020, with the company posting profit after tax of Rs 9.56 billion translating into EPS of Rs 4.55.
Fatima Fertilizer Company Limited has acquired manufacturing business of fertilizer and plants of Pakarab Fertilizers Limited. With all three plants in operation at Sadiqabad, Multan and Sheikhupura, Fatima Fertilizer has started serving the nation and its stakeholders with cumulative annual name plate capacity of 2.57 million MT per year; Sadiqabad Plant 1.28 million MT, Multan Plant 0.85 million MT and Sheikhupura Plant 0.44 million MT.
Cost of Sales during current period reduced by 17% compared to same period in last year mainly due to release of subsidy by the government to SNGPL against RLNG supply to Sheikhupura Plant in 2019 amounting to Rs 5.7 billion. Besides other factors, reduction in Revenue and Cost of Sales is primarily associated to limited supply of gas at Sheikhupura Plant till end of July 2020.
Owing to above factors, gross profit of the company during the current period improved to Rs 21.37 billion from Rs 21.10 billion in same period last year. The company posted profit before tax of Rs 13.64 billion and profit after tax of Rs 9.56 billion compared to Rs 13.22 billion and Rs 9.22 billion respectively as compared to same period last year. Company’s earnings per share (EPS) improved slightly to Rs 4.55 per share against Rs 4.39 per share in the corresponding period last year.
With efficient and uninterrupted plant operations Fatima Fertilizer remains committed to continuing supply of Urea and other much needed value added fertilizers to farmers during upcoming peak Rabi seasons, said a company statement issued here on Thursday.
Copyright Business Recorder, 2020
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