Engro Fertilizers’ Profit Increases to Rs 5.7 Billion
Due to higher fertilizer demand and prices, Engro Fertilizers’ profit jumped 906% to Rs 5.74 billion in the quarter that concluded on March 31, 2021.
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According to a report issued to the Pakistan Stock Exchange, the company earned Rs 570.76 million during the same quarter previous year (PSX).
As a result, the company’s earnings per share for the quarter ending in March 2021 were Rs 4.3 as opposed to Rs 0.43 during the same period the year prior.
The company also disclosed the results and announced an interim cash dividend of Rs. 4 per share. Net revenues for the company climbed from Rs 10.8 billion in January-March 2020 to Rs 29.4 billion in January-March 2021, a 172.8 percent increase.
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Also, despite the enormous growth in urea offtake, gross margins increased to 39.25% in 1QCY21 from 33.68% in 1QCY20.
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