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)
Ismail Iqbal Securities
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%.
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