Despite a 2 per cent reduction in Fatima Fertilizer Company’s sales, its bottom line rose up significantly, due to decreased cost of sales.
The company considered its earnings for the half year period ended on June 30 2018, in a Board of Directors meeting held on August 27 2018.
On a year-on-year basis, Fatima Fertilizers’ Cost of sales came down by 36 per cent, from Rs16.3 billion to Rs10.3 billion.
This left a noticeable impact on the profit and loss account, as the gross profits recorded a growth of 68 per cent.
While expenses grew as well, the company still managed to bring up its overall profit for the period from Rs3 billion to Rs5.7 billion, demonstrating a YoY rise of 87.9 per cent.
Earnings per share grew from Rs1.44 per share to Rs2.71 per share.