Fatima Fertilizer boosts dividend by 57% as profit soars

MG News | August 27, 2024 at 02:59 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

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	166,419.72 133.15M	0.14% 233.55
ALLSHR	100,871.92 395.66M	0.05% 48.64
KSE30	49,316.65 59.50M	0.05% 23.11
KMI30	239,907.60 63.28M	-0.05% -114.34
KMIALLSHR	65,473.69 245.25M	-0.00% -2.07
BKTi	45,849.28 9.86M	0.23% 104.46
OGTi	33,523.02 3.37M	-0.51% -171.71

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,950.00	82,995.00 80,805.00	-1480.00 -1.80%
BRENT CRUDE	109.73	110.00 104.91	3.81 3.60%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	0.05 0.04%
ROTTERDAM COAL MONTHLY	145.10	0.00 0.00	0.15 0.10%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	99.08	99.34 95.29	2.58 2.67%
SUGAR #11 WORLD	20.85	21.01 20.47	-0.28 -1.33%