Engro Fertilizers announced its financial results today, where the company posted consolidated earnings of Rs12,249 million, up by a massive 83 per cent year-on-year (YoY).
On a quarterly basis, in the third quarter of calendar year 2018, profitability clocked-in at Rs5,100 million depicting an increase of 97 per cent over the same-period-last-year (SPLY).
Alongside the result, the company also announced an interim cash dividend of Rs4.00/share taking the nine months calendar year (9MCY18) 2018 dividend to Rs8.00/share (9MCY17: Rs5.50/share).
During 9MCY18, sales escalated by a massive 45 per cent YoY to Rs69 billion, mainly due to 16 per cent and 9 per cent YoY jumps in urea and DAP offtake, respectively.
During 2QCY18 topline witnessed a 38 per cent YoY growth on account of 6 per cent YoY surge in urea offtake tagged with 22 per cent YoY increase in urea prices.
