IslamabadENGRO Fertilizers Limited (EFERT), a company affiliated to Engro Corporation Limited, reported a profit after the Pat at 28.26 billion rupees for the year ending on December 31, 2024, which reflects an increase of 8 % compared to 26.19 billion rupees in 2023 amounted to The company’s profits for the share (EPS) of 21.16 rupees, an increase of 19.61 rupees in the previous year.
The increase in profits is attributed to enhancing operational efficiency by improving cost and improving the factory management, according to the financial statement of the company presented on the Pakistani Stock Exchange (PSX).
In line with its strong financial performance, the BOD Board of EFERT announced the distribution of final cash dividends of 8 rpions per share (80 %) in addition to temporary cash dividends of 13.5 rupees per share (135 %) already paid.
On a uniform basis, fertilizers witnessed an increase of about 15 % on an annual basis in revenue, which amounted Increased sales revenues.
However, despite the growth of revenue, the company’s total profit witnessed a slight decrease to 72.28 billion rupees from 72.3 billion rupees in 2023, when the cost of sales increased by 22 % on an annual basis. This led to a decrease in profit margins, which decreased to 28.2 % of 32.3 % in the previous year.
The expenses of sales and administrative expenses of EFERT increased by 28 %, reaching 22.61 billion rupees in 2024 compared to 17.63 billion rupees in 2023. In a positive note, the company recorded a profit of 1.2 billion rupees in the entry of the subsidy from the government, which is a noticeable improvement than 2.44 billion rupees in 2023.
Despite the decreased profit before taxes (PBT), which decreased by 9 % to 45.15 billion rupees, the company’s tax payments for this year were much lower, reaching 12.89 billion rupees compared to 23.5 billion rupees in 2023.
The strong financial results of Engro Fertilizers emphasize the company’s flexibility in moving in challenges while improving its operations to provide strong returns to shareholders.
