February 09, 2023 (MLN): Engro Fertilizers Limited (EFERT) on Thursday declared its financial results for the calendar year 2022, as per which, the company has posted its consolidated profit after tax (PAT) of Rs16 billion [EPS: Rs11.98], showing a decline of 24.13% YoY, compared to 21.09bn in 2021 [EPS: Rs15.8].
Alongside results, the company announced the final cash dividend of Rs5 per share which is 50%.
The net sales of the company increased by 18.63% YoY to Rs157bn. On the contrary, the gross margin went down by 6.01% YoY to 27.29% YoY in CY22, driven by the increase in the cost of sales by 29.31% YoY.
On the expense side, the selling and distribution expenses, and administrative expenses soared by 15.90% YoY, and 17.66% YoY to Rs9.88bn and Rs2.22bn, respectively.
Other income of the company recorded a positive change of 29.88% YoY stood at Rs2.32bn against Rs1.79bn in SPLY.
The company paid Rs10.56bn in terms of tax in Cy22, up by 20% YoY compared to CY21.
|
Consolidated Financial Results for the year ended December 31, 2022 (Rupees'000) |
|||
|---|---|---|---|
|
|
CY22 |
CY21 |
% Change |
|
Net sales |
157,016,930 |
132,363,138 |
18.63% |
|
Cost of sales |
-114,169,791 |
-88,288,978 |
29.31% |
|
Gross profit |
42,847,139 |
44,074,160 |
-2.78% |
|
Selling and distribution expenses |
-9,885,983 |
-8,529,610 |
15.90% |
|
Administrative expenses |
-2,216,597 |
-1,883,822 |
17.66% |
|
|
30,744,559 |
33,660,728 |
-8.66% |
|
Other income |
2,325,361 |
1,790,398 |
29.88% |
|
Other operating expenses |
-2,523,538 |
-2,658,002 |
-5.06% |
|
Finance cost |
-2,621,808 |
-1,602,197 |
63.64% |
|
Re-measurement loss in GIDC & Loss allowance on subsidy receivable from GoP |
-1,362,871 |
-1,300,682 |
4.78% |
|
Profit before taxation |
26,561,703 |
29,890,245 |
-11.14% |
|
Taxation |
-10,558,414 |
-8,797,588 |
20.01% |
|
Profit for the period |
16,003,289 |
21,092,657 |
-24.13% |
|
Earnings per share – basic and diluted |
11.98 |
15.8 |
-24.18% |
Copyright Mettis Link News
Posted on: 2023-02-09T15:15:40+05:00
