Fatima Fertilizer Q3 profit rises 25%
MG News | October 29, 2024 at 03:07 PM GMT+05:00
October 29, 2024 (MLN): Fatima Fertilizer Company Limited (PSX: FATIMA) earned a 25.1% higher net profit of Rs9.4 billion [EPS: Rs4.48] during the quarter ending September 2024 despite lower revenue.
That compares to a profit of Rs7.52bn [EPS: Rs3.58] recorded in the same period last year (SPLY).
Its revenue fell 18.2% to Rs61.78bn as compared to Rs75.48bn in SPLY. Gross profit decreased 5.0% to Rs21.04bn in Q3 CY24.
The gross margins, however, improved to 34.0% as compared to 29.3% in SPLY.
During the period under review, other income expanded 58.7% to stand at Rs2.27bn in Q3 CY24 as compared to Rs1.43bn in SPLY.
On the expense side, the company's administrative expenses rose 26.5% from a year ago to Rs2.39bn, selling and distribution expenses fell 7.7% to Rs3.44bn, and other operating expenses fell 28.9% to Rs1.54bn.
The company’s finance cost dipped by 12.4% and stood at Rs872.65m as compared to Rs995.98m in SPLY.
On the tax front, the company paid a lower tax worth Rs5.66bn against an expense paid worth Rs7.15bn in the corresponding period of last year, a fall of 21.0%.
This translates to an effective tax rate of 37.6% as compared to 48.8% in SPLY.
| Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Sep 24 | Sep 23 | % Change | |
| Sales | 61,782,194 | 75,482,818 | -18.15% |
| Cost of sales | (40,746,553) | (53,338,114) | -23.61% |
| Gross Profit/ (loss) | 21,035,641 | 22,144,704 | -5.01% |
| Administrative Expenses | (2,391,688) | (1,890,529) | 26.51% |
| Selling And Distribution Expenses | (3,441,536) | (3,727,215) | -7.66% |
| Other Gains / (Losses) | (6,375) | (116,682) | -94.54% |
| Share Of Profit / (Loss) | 3,753 | (6,978) | - |
| Other Income | 2,271,646 | 1,431,817 | 58.65% |
| Other Operating Expenses | (1,538,519) | (2,164,254) | -28.91% |
| Finance Cost | (872,649) | (995,977) | -12.38% |
| Profit/ (loss) before taxation | 15,060,273 | 14,674,886 | 2.63% |
| Taxation | (5,655,562) | (7,154,593) | -20.95% |
| Net profit/ (loss) for the period | 9,404,711 | 7,520,293 | 25.06% |
| Basic earnings/ (loss) per share | 4.48 | 3.58 | - |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 170,330.56 209.36M | 0.81% 1376.85 |
| ALLSHR | 102,776.00 765.10M | 0.85% 863.00 |
| KSE30 | 50,737.15 66.77M | 0.77% 386.66 |
| KMI30 | 243,202.84 63.94M | 0.72% 1744.16 |
| KMIALLSHR | 66,614.20 338.53M | 0.70% 461.96 |
| BKTi | 46,313.18 13.24M | 1.10% 505.34 |
| OGTi | 35,066.80 5.64M | 0.45% 158.54 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 61,450.00 | 62,095.00 61,365.00 | -720.00 -1.16% |
| BRENT CRUDE | 92.20 | 93.26 91.66 | 0.75 0.82% |
| RICHARDS BAY COAL MONTHLY | 123.75 | 124.00 123.75 | -1.25 -1.00% |
| ROTTERDAM COAL MONTHLY | 133.20 | 133.40 133.00 | -3.55 -2.60% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 88.90 | 90.00 88.28 | 0.70 0.79% |
| SUGAR #11 WORLD | 14.14 | 14.23 13.97 | 0.02 0.14% |
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 |
|---|