Fauji Fertilizer posts Rs732 million loss

KARACHI: Fauji Fertilizer Bin Qasim Limited posted a consolidated loss of Rs732 million in the third quarter of the current fiscal year which ended on March 31, according to a company notice sent to the Pakistan Stock Exchange (PSX). In the same period previous year, the company reported a loss of Rs154 million.

During the period under review, the loss per share (LPS) rose to Rs0.78 from a LPS of Rs0.17.

Meanwhile, Fauji Fertilizer’s share price on Monday closed at Rs51.71, while the KSE-100 Index closed at 50,111.

According to a report by Sherman Securities, the result was below market expectations and the decline in earnings was due to lower DAP selling price and increased losses from food and meat business.

Published in The Express Tribune, April 25^th, 2017.

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