EFERT Preview: Increase in Urea, DAP prices to save the day

MG News | August 07, 2019 at 05:13 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

August 7, 2019 (MLN): Engro Fertilizers Limited is scheduled to announce the financial results for the half year ended June 30, 2019 on Thursday i.e. August 8, 2019.

According to the projections given below, the company is expected to report Profit after Tax of over Rs. 7.4 billion, as compared to PAT of Rs. 7.1 billion recorded in the same period of last year.

Financial projections for half year ended June 30, 2019 (Rupees' million)
Research House	PAT	EPS	% Change	Cash Dividend
Ismail Iqbal Securities	7,623	5.71	6.6%	Rs. 4.5
IGI Securities	7,539	5.65	5%	Rs. 3
BIPL Securities	7,452	5.58	4%	Rs. 3.25
Darson Securities	7,517	5.63	5%	Rs. 3.5

The increase in net earnings can be attributed to higher sales revenue resulting from increase in average retention prices of Urea and DAP.

The company’s earnings are however expected to be hit by increase in finance costs resulting from increase in policy rate.

Moreover, the earnings might be dragged further down lest the company books a tax reversal due to fixation of corporate tax rate at 29%.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	180,883.57 171.75M	0.48% 868.63
ALLSHR	108,859.86 437.71M	0.45% 487.73
KSE30	54,107.47 99.17M	0.53% 285.65
KMI30	254,814.21 55.67M	0.50% 1266.82
KMIALLSHR	69,770.48 241.18M	0.40% 278.53
BKTi	52,092.25 63.89M	0.48% 248.63
OGTi	35,038.13 5.75M	0.68% 235.47

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,995.00	65,255.00 64,640.00	-85.00 -0.13%
BRENT CRUDE	79.94	80.35 78.92	0.49 0.62%
RICHARDS BAY COAL MONTHLY	107.75	0.00 0.00	1.75 1.65%
ROTTERDAM COAL MONTHLY	116.50	0.00 0.00	0.45 0.39%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	75.49	76.04 74.57	0.27 0.36%
SUGAR #11 WORLD	15.19	15.21 15.12	0.04 0.26%