August 27, 2019 (MLN): Fatima Fertilizer Limited (FATIMA) posted 23% increase in its Net profits after tax to Rs 7 billion compared to Rs 5.7 billion earned in the same period last year. The company reported its Earning per share (EPS) at Rs 3.36 for 6 months ended on June 30th 2019.
The upsurge in earnings came largely as a result of improved fertilizer prices, higher Nitro phosphate (NP) offtake and higher volumetric sales.
Drop in selling and distribution expenses by 20%YoY to PKR 1.88 billion and increase in other income by 111% also helped in lifting up the company’s profitability.
Moreover, the company reported 95% increase in finance cost owing to higher interest rates which helped in limiting the growth impact of company’s earnings.
Profit and Loss Account for the six months ended on June 30th 2019 ('000 Rupees) |
|||
---|---|---|---|
|
Jun-19 |
Jun-18 |
% Change |
Sales |
34,013,172 |
23,630,597 |
43.94% |
Cost of sales |
(18,575,995) |
(10,313,790) |
80.11% |
Gross profit |
15,437,177 |
13,316,807 |
15.92% |
Distribution cost |
(1,878,837) |
(2,353,660) |
-20.17% |
Administrative expenses |
(1,309,529) |
(1,115,642) |
17.38% |
Finance cost |
(1,582,139) |
(810,166) |
95.29% |
Other operating expenses |
(1,052,947) |
(794,294) |
32.56% |
Other income |
463,350 |
219,242 |
111.34% |
Share of profit from Associates |
12,383 |
30,597 |
-59.53 |
Profit before tax |
10,089,458 |
8,492,884 |
18.80% |
Taxation |
(3,032,277) |
(2,794,318) |
8.52% |
Profit for the period |
7,057,181 |
5,698,566 |
23.84% |
Earnings per share – basic and diluted (Rupees) |
3.36 |
2.71 |
23.99% |
Copyright Mettis Link News
29625