Engro Fertilizers Limited (EFERT) has announced impressive financial results for the first nine months of 2024 (9MCY24). Despite a decline in quarterly earnings, the company’s overall performance for the period is commendable.
The company reported a consolidated profit after tax (PAT) of Rs. 17.98 billion, a 20% increase compared to the same period last year. This growth was primarily driven by higher urea and DAP prices, which led to a 16% increase in net sales.
While urea sales declined due to plant maintenance, the company’s gross margins remained stable. Other income also increased significantly, contributing to the overall profit. However, higher interest rates led to a rise in finance costs.
Despite these challenges, Engro Fertilizers’ earnings per share (EPS) for 9MCY24 stood at Rs. 13.47, and the company declared a cash dividend of Rs. 2.50 per share.
Overall, Engro Fertilizers’ financial performance for 9MCY24 demonstrates its resilience and ability to navigate a challenging market environment. The company’s strong fundamentals and strategic focus position it well for future growth.
