FATIMA's profit soars by 20% YoY to Rs13bn in 9MCY23

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.

FATIMA and KSE-100 YTD Performance

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