Fatima Fertilizer posts Rs1.91b profit

KARACHI: Fatima Fertilizer Limited posted a consolidated profit of Rs1.91 billion in quarter ended on March 31, up from Rs896 million posted in the same period of previous year, according to a company notice sent to the Pakistan Stock Exchange.

The company’s earnings per share (EPS) increased to Rs0.91 from Rs0.43 in the period under review.

On a sequential basis, the earnings declined by 33% on quarter-on-quarter comparison, primarily due to seasonal off-take variation. Meanwhile, revenues of the company increased to Rs8.25 billion from Rs5.34 billion in the period under review mainly on the back of strong off-take during the quarter, according a JS Research report.

It outperformed other fertiliser manufacturers due to hefty price discounts and aggressive selling. The company’s share price closed at Rs34.95 on Friday, up 2.5% from Rs34.09. On the same day, the KSE-100 index closed at 49,708, up 965 points or 1.98%.

Published in The Express Tribune, April 22^nd, 2017.

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