EFERT announces cash dividend of Rs 9 per share for 9MCY20

News Image

By MG News | October 21, 2020 at 03:19 PM GMT+05:00

0:00

October 21, 2020 (MLN): Engro Fertilizers Limited (EFERT) has reported 9% YoY increase in net profits to Rs 11.49 billion for the nine months period ended on September 2020, compared to the profits of Rs 10.5 billion earned in the corresponding period last year.

This caused the company’s earnings per share to clock in at Rs 8.61 against Rs 7.87 reported last year.

Alongside financial results, EFERT announced interim cash dividend of Rs 5 per share. This takes 9MCY20 DPS to Rs 9 per share.

The profitability of the company mainly attributed to decline inf effective tax rate, lower financial cost and stability in sales revenue.

During the period, company’s net sales remained stable due to increase in Urea and DAP offtakes, while its cost of sales jumped by 2% YoY, translating into a gross margin of 31% against 32% in the same period last year. This decline in gross margins is mainly attributable to lower urea prices, said the report by IGI Securities.

Moreover, due to series of rate cuts in benchmark interest rates during previous quarter, the finance cost of the company declined by 14% YoY.

According to the report, the major respite to earnings came from lower tax rate which stood at 19% as compared to 40% in same period last year.

Consolidated Financial Results for the nine months ended September 30, 2020 (Rupees'000)

 

Sep-20

Sep-19

% Change

Net sales

                        78,138,036

                        77,749,136

0.50%

Cost of sales

                      (53,900,431)

                      (52,794,633)

2.09%

Gross profit

                        24,237,605

                        24,954,503

-2.87%

Selling and distribution expenses

                        (5,990,180)

                        (5,449,526)

9.92%

Administrative expenses

                        (1,234,810)

                           (887,347)

39.16%

Other income

                          1,005,870

                          3,652,650

-72.46%

Other operating expenses

                        (1,148,896)

                        (1,489,298)

-22.86%

Finance cost

                        (2,762,935)

                        (3,228,796)

-14.43%

Profit before taxation

                        14,106,654

                        17,552,186

-19.63%

Taxation

                        (2,615,972)

                        (7,041,530)

-62.85%

Profit for the period

                        11,490,682

                        10,510,656

9.32%

Earnings per share - basic and diluted

8.61

7.87

9.40%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,860.00 110,455.00
105,440.00
4110.00
3.89%
BRENT CRUDE 68.75 68.77
66.94
1.64
2.44%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.06 67.11
65.23
1.61
2.46%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 02, 2025 at 11:05 PM GMT+05:00

Cement sales flat in FY25


July 02, 2025 at 10:50 PM GMT+05:00

SBP reserves cross $14bn mark in FY25


July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes


July 02, 2025 at 05:05 PM GMT+05:00

PSX in FY25: From Oof to Boom


July 02, 2025 at 05:01 PM GMT+05:00

Gold price in Pakistan falls Rs600 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg