Fauji Fertilizer Bin Qasim. PHOTO: http://www.ffbl.com/
Fauji Fertilizer Company posted a net profit of Rs11.94 billion for the first nine months (Jan-Sep) of 2015, down 8% compared to Rs12.96 billion in the same period of last year, according to a notice sent to the Karachi Stock Exchange (KSE) on Wednesday.
Earnings per share (EPS) came down to Rs9.39 from an EPS of Rs10.19 during the period under review.
According to a BMA report, earnings of the company declined primarily due to 8% year on year growth in distribution costs despite lower sales, 59% year on year jump in financial costs due to increased borrowing following payment of accumulated Gas Infrastructure Cess (GIDC) and decline in gross margins by 160 basis points (BPS) due to increased cost of production.
Published in The Express Tribune, October 29th, 2015.
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