Fatima Fertilizer boosts dividend by 57% as profit soars
.png)
MG News | August 27, 2024 at 02:59 PM GMT+05:00
August 27, 2024 (MLN): Fatima Fertilizer Company Limited (PSX: FATIMA) recorded a profit of Rs5.08 billion [EPS: Rs2.42] in the quarter ending June 2024, and hiked dividend per share by 57% YoY to Rs2.75.
That compares with a profit of profit of Rs1.25bn [EPS: Rs0.59] earned in the same period last year (SPLY).
The company's sales slipped 10.6% to Rs41.83bn as compared to Rs46.78bn in SPLY.
However, the cost of sales also fell 20.0%, improving the gross profit by 10.8% YoY to Rs15.82bn in Q2 2024.
The gross margins rose to 37.8% as compared to 30.5% in SPLY.
Other income grew 194.1% YoY to stand at Rs2.1bn in Q2 2024 as compared to Rs715.46m in SPLY.
On the expense side, the company's selling and distribution expenses rose 57.7% YoY to Rs2.44bn, administrative expenses rose 53.4% YoY to Rs3.1bn, and other operating expenses rose 65.3% YoY to Rs1.63bn.
The company’s finance cost decreased by 52.3% and stood at Rs721.34m as compared to Rs1.51bn in SPLY.
On the tax front, the company paid a lower tax worth Rs4.94bn against the Rs7.51bn paid in the corresponding period of last year, depicting a fall of 34.2%.
Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000) | |||
---|---|---|---|
Jun 24 | Jun 23 | % Change | |
Sales | 41,830,742 | 46,776,713 | -10.57% |
Cost of sales | (26,009,252) | (32,494,560) | -19.96% |
Gross profit/ (loss) | 15,821,490 | 14,282,153 | 10.78% |
Selling and distribution expenses | (2,441,069) | (1,547,933) | 57.70% |
Administrative expenses | (3,099,398) | (2,020,840) | 53.37% |
Other losses | (16,676) | (173,216) | 0.00% |
Share of profit from associates | 1,637 | 2,981 | -45.09% |
Other income | 2,103,973 | 715,463 | 194.07% |
Other operating expenses | (1,632,254) | (987,187) | 65.34% |
Finance cost | (721,342) | (1,513,669) | -52.34% |
Profit/ (loss) before taxation | 10,016,361 | 8,757,752 | 14.37% |
Taxation | (4,940,647) | (7,508,713) | -34.20% |
Net profit/ (loss) for the period | 5,075,714 | 1,249,039 | 306.37% |
Basic earnings/ (loss) per share | 2.42 | 0.59 | - |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
BKTi | 37,831.34 13.04M | 1.62% 603.62 |
OGTi | 27,440.63 3.93M | -0.09% -23.70 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,775.00 | 119,740.00 116,460.00 | -520.00 -0.44% |
BRENT CRUDE | 73.52 | 73.63 71.75 | 1.01 1.39% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 70.35 | 70.51 68.45 | 1.14 1.65% |
SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|