Fatima Fertilizer reports strong 56% profit growth

By MG News | March 14, 2025 at 09:54 AM GMT+05:00

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March 14, 2025 (MLN): Fatima Fertilizer Company Limited (PSX: FATIMA) reported a 56.18% increase in net profit to Rs34.98 billion [EPS: Rs16.66] for the year ended December 31, 2024, compared to Rs22.39bn [EPS: Rs10.67] in the previous year.

The company declared a final cash dividend of Rs4.25 per share (42.5%), in addition to the interim dividend of Rs2.75 per share (27.5%) already paid, bringing the total payout to Rs7 per share.

The company’s revenue grew marginally by 2.43% to Rs238.42bn from Rs232.75bn in 2023.

However, the cost of sales declined by 5.88% to Rs150.92bn, contributing to a 20.84% rise in gross profit, which stood at Rs87.5bn.

On the expense front, distribution costs surged 33.71% to Rs13.95bn, while administrative expenses increased 22.46% to Rs10.03bn.

The company’s finance cost edged up 2.36% to Rs4.75bn, and other operating expenses rose 38.63% to Rs10.57bn.

Other income saw a significant jump of 80.49% to Rs13.13bn, aiding overall profitability.

The share of loss from associates soared to Rs87.54 million from Rs1.4m last year.

Other losses, primarily driven by the unwinding of provisions for GIDC and loss allowance on subsidy receivables, declined by 34.41% to Rs686.34m.

The company’s profit before tax grew 26.83% to Rs60.55bn.

Despite a 0.90% rise in taxation to Rs25.57bn, the overall profit for the year saw a strong gain of 56.18%.

Financail Results For The Year Ended Decmber 31, 2024 (Rupees in thousand)
Particulars	Dec-24	Dec-23	%Change
Sales	238,422,133	232,754,821	2.43%
Cost of Sales	(150,919,315)	(160,345,454)	-5.88%
Gross Profit	87,502,818	72,409,367	20.84%
Distribution Cost	(13,952,445)	(10,435,036)	33.71%
Administrative Expenses	(10,035,133)	(8,194,659)	22.46%
Operating Profit	63,515,240	53,779,672	18.10%
Finance Cost	(4,750,109)	(4,640,423)	2.36%
Other Operating Expenses	(10,568,880)	(7,623,757)	38.63%
Operating Profit After Expenses	48,196,251	41,515,492	16.09%
Other Income	13,133,253	7,276,640	80.49%
Share of Loss from Associates	(87,543)	(1,404)	6135.26%
Other Losses
- Unwinding of Provision for GIDC	(58,700)	(220,083)	-73.33%
- Loss Allowance on Subsidy Receivable	(627,648)	(826,377)	-24.05%
Total Other Losses	(686,348)	(1,046,460)	-34.41%
Profit Before Tax	60,555,613	47,744,268	26.83%
Taxation	(25,572,375)	(25,344,869)	0.90%
Profit for the Year	34,983,238	22,399,399	56.18%
Earnings Per Share (Rupees)	16.66	10.67	56.14%

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