Staff Reporter
Karachi
Engro Corporation Limited (ENGRO) announced its 3QCY19 result with a bottom-line of PKR 6.2bn (EPS: PKR 10.67) in contrast to PKR 3.9bn (EPS: PKR 6.69) in SPLY, portraying an increase of 59% YoY. Along with the result, the company announced a cash dividend of PKR 8.00/share (3QCY18: PKR 7.00/share).
On the fertilizer business front, EFERT posted a decline of 35% YoY in profitability to PKR 3,326mn during 3QCY19 amid 11% YoY and 35% YoY decline in urea and DAP offtake, respectively tagged with higher gas prices during the period. Profitability of Engro Polymer & Chemicals Limited (EPCL) clocked-in at PKR 443mn, up by 17% YoY, given higher other income along with 53% YoY increase in PVC margins. FrieslandCampina Engro Pakistan Limited (FCEPL), posted a loss after tax of PKR 570mn (LPS: PKR 0.74) in 3QCY19 as compared to PAT of 2mn (EPS: PKR 0.002) during same period last year primarily owed to decline in gross margins (8% in 3QCY19 vs. 15% in 3QCY18).
The company booked effective taxation at 27% during 3QCY19.
