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% |
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