October 26, 2023 (MLN): Fatima Fertilizer Company Limited (PSX: FATIMA) has revealed its profit and loss statement for 9MCY23 as per which the company recorded a profit of Rs12.99bn [EPS: 6.19], compared to Rs10.82bn profit reported in the Same Period Last Year (SPLY), reflecting an increase of 20.17% YoY.
Going by the results, the company's top line rose by 61.01% YoY to Rs161.43bn as compared to Rs100.26bn in SPLY.
The cost of sales also went up by 87.08% YoY but was lesser than proportionate to sales increase, which improved the gross profit by 24.30% YoY to Rs51.75bn in 9MCY23.
On the expense side, the company observed an increase in Selling and distribution expenses by 56.61% YoY and administrative expenses by 24.72% YoY to clock in at Rs8.3.bn and Rs5.44bn respectively during the review period.
Similarly, FATIMA's other operating expenses for the 9MCY23 increased by 9.78% YoY to Rs5.41bn.
Moving forward, other income during the review period grew by 36.27% YoY to stand at Rs2.54bn in 9MCY23 as compared to Rs1.87bn in SPLY.
The company’s finance costs surged by 78.35% YoY and stood at Rs3.85bn as compared to Rs2.16bn in 9MCY22, mainly due to higher interest rates.
On the tax front, the company paid a higher tax worth Rs17.91bn against the Rs15.62bn paid in the corresponding period of last year, depicting a rise of 14.72% YoY.
| Condensed Consolidated Interim Financial Results for Nine months ended September 2023 | |||
|---|---|---|---|
| Sep 23 | Sep 22 | % Change | |
| Sales | 161,429,848 | 100,261,849 | 61.01% |
| Cost of sales | (109,678,044) | (58,626,579) | 87.08% |
| Gross Profit | 51,751,804 | 41,635,270 | 24.30% |
| Selling and distribution expenses | (8,302,233) | (5,301,136) | 56.61% |
| Administrative and general expenses | (5,444,241) | (4,365,054) | 24.72% |
| Share of (loss) / profit from associates | (954) | 2,665 | – |
| Other losses | (376,614) | (319,248) | 17.97% |
| Other Income | 2,543,518 | 1,866,496 | 36.27% |
| Other expenses | (5,414,074) | (4,931,794) | 9.78% |
| Finance cost | (3,850,030) | (2,158,717) | 78.35% |
| Profit before tax | 30,907,176 | 26,428,482 | 16.95% |
| Taxation | (17,914,951) | (15,616,886) | 14.72% |
| Net profit for the period | 12,992,225 | 10,811,596 | 20.17% |
| Basic and diluted earnings/ (loss) per share | 6.19 | 5.15 | – |
FATIMA and KSE-100 YTD Performance
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Posted on: 2023-10-26T10:22:28+05:00
