Engro’s third quarter profit rises 62pc YoY

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LAHORE: Engro Corporation, on Monday, in a board of directors meeting held in Karachi approved its financial results for the quarter ended March 31, announcing profit after tax of Rs6.8 billion, up 62 per cent, compared to Rs4.2 billion in the same period of last year.

Earnings per share for the period also increased 47.8 per cent to Rs8.01 from Rs5.42 last year. The company has announced an interim cash dividend of Rs5 (50 per cent) for the quarter.

Sales for the period were recorded at Rs33.5 billion, with the company experiencing a substantial 49 per cent increase compared to Rs22.5 billion in 3Q2018.

Selling and distribution expenses, administrative expenses and other operating expenses increased by 24.2 per cent, 20.7 per cent and 106.6 per cent respectively. On the other hand,  Finance costs decreased 7 per cent compared to same period of last year.

Engro Corporation is a Pakistani public multinational corporation based in Karachi with subsidiaries involved in the production of fertilisers, foods, chemicals, energy and petrochemicals.

At the time of filing of this report on Monday, Engro Corporation with the symbol ENGRO was trading at the Pakistan Stock Exchange at Rs313.25 up Rs0.99 or 0.32 per cent from the start of the day.