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

News Image

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 167,581.02
605.90M
0.80%
1338.12
ALLSHR 101,781.49
939.69M
0.64%
648.68
KSE30 51,244.47
142.41M
0.70%
357.86
KMI30 242,135.63
70.39M
0.42%
1018.98
KMIALLSHR 66,897.18
596.05M
0.57%
377.74
BKTi 48,263.52
92.00M
1.16%
552.45
OGTi 32,688.30
10.92M
0.83%
269.69
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,220.00 111,160.00
107,705.00
-2855.00
-2.57%
BRENT CRUDE 61.10 61.20
60.58
0.09
0.15%
RICHARDS BAY COAL MONTHLY 80.50 0.00
0.00
-1.50
-1.83%
ROTTERDAM COAL MONTHLY 92.75 92.75
92.75
-0.25
-0.27%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 57.10 57.20
56.60
0.08
0.14%
SUGAR #11 WORLD 15.77 15.78
15.51
0.27
1.74%

Chart of the Day


Latest News
October 21, 2025 at 10:54 AM GMT+05:00

NEPRA revises K-Electric tariff, lowers rate to Rs32.37/unit


October 21, 2025 at 10:46 AM GMT+05:00

Japan elects Sanae Takaichi as first female PM


October 21, 2025 at 10:21 AM GMT+05:00

EFERT targets end-2025 for Phase 1 of gas pressure project



Top 5 things to watch in this week

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