KARACHI: Pakistan’s premier conglomerate, Engro Corporation has announced its financial results for the quarter ended March 31, 2022. Engro Corporation’s standalone profitability exhibited a substantial growth of 92 percent and reached Rs 6.88 billion in the first quarter of 2022 from Rs 3.59 billion in the corresponding quarter in 2021.
The dividend income of the company grew by 124 percent during the period reaching Rs 7.70 billion in comparison to Rs 3.43 billion during the first quarter of 2021.
The increase in dividend income and standalone profitability is primarily attributable to receipt of higher dividends from the fertilizer and petrochemical businesses.
On a consolidated basis, the company’s revenue grew by 25 percent to Rs 88.33 billion in the first quarter of 2022 from Rs 70.87 billion in the corresponding period last year. The company posted a profit after tax (PAT) of Rs 14.90 billion, while PAT attributable to the shareholders was Rs 7.97 billion resulting in earnings per share (EPS) of Rs 13.84 compared to Rs 14.47 in same period last year.
Engro Corporation announced an interim cash dividend of Rs 12.00 per share for the first quarter.
Copyright Business Recorder, 2022
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