AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

Engro Fertilizers Limited (EFERT), a wholly owned subsidiary of Engro Corporation Limited, posted its highest Profit After Tax (PAT) of Rs26.19 billion for year 2023, an increase of 64% as compared to Rs16 billion recorded in 2022, showed the company’s consolidated financial results posted at the Pakistan Stock Exchange (PSX) on Friday.

“This increase reflects efficiency through cost optimization, increased production from the long-term reliability projects executed during 2022,” the company said in its notice.

The profit translates into earnings per share (EPS) of Rs19.61 in 2023, in comparison to an EPS of Rs11.98 recorded in the same period last year.

Moreover, the board of EFERT in its meeting held on February 15, announced a final cash dividend for the year ended at Rs8 per share i.e. 80%.

This is in addition to interim cash dividends already paid at Rs12.50 per share i.e. 125%.

On a consolidated basis, Engro Fertilizers’ revenue grew by 42% to Rs223.7 billion in 2023 from Rs157.02 billion in 2022.

Engro Corporation’s half-year profit up 28%

The fertilizer manufacturer’s gross profit rose by 69% to Rs72.29 billion as compared to Rs42.84 billion. The profit margin rose to 32.3% in 2023, up from 27.3% in the preceding year.

The other income jumped 60% YoY, clocking in at Rs3.7 billion during 2023 as compared to Rs2.3 billion recorded in same period last year.

Despite significant interest rate hikes during the year, EFERT’s interest expense reduced by 27% to reach Rs1.9 billion in 2023, as compared to Rs2.6 billion in 2022.

Consequently, the company posted a profit before tax (PBT) of Rs49.69 billion in 2023, an increase of 87%.

During the period, the company paid Rs23.5 billion in taxes in 2023, higher than Rs10.56 billion in same period last year.

Engro Fertilizers shared that along with other major fertilizer manufacturers, it remains committed to Gas Pressure Enhancement Facilities (PEF) project, to jointly develop and install pressure enhancement facilities at gas suppliers’ delivery node to sustain the current level of pressure of gas.

The company’s expected share of capital expenditure is over $100 million.

Comments

200 characters
KU Feb 16, 2024 07:05pm
Guess what farmers earned in 2023? On avg. Rs. 15000 per acre, due to high input costs, and down to barely surviving the year. The 180 million associated with agriculture are faced with famine surely.
thumb_up Recommended (0) reply Reply
TD Feb 17, 2024 10:57am
Yeah. It's all due to high prices of fertilizers and creating artificial shortage in market by Fertilizers Companies themselves. Sucking blood out of poor farmers. Nothing else.
thumb_up Recommended (0) reply Reply
Nasreen keerio Feb 17, 2024 12:04pm
I need to this job
thumb_up Recommended (0) reply Reply
ABDUL KHALIQ Apr 15, 2024 11:23am
WHEN YOUR COMPANY GIVE CASH DIVIDNED
thumb_up Recommended (0) reply Reply