Staff Reporer Islamabad
Fauji Fertilizer Company (FFC) has announced its financial results for the year ended December 31, 2020 with net profitably of Rs 20.82 billion. The profitability translated into Earning Per Share (EPS) of Rs 16.36 which was 22% higher than last year.
The increase in profitability is primarily attributable to a temporary gain on extinguishment and re-measurement of GIDC liability under the requirements of the International Financial Reporting Standards, which shall reverse in the next four years during the repayment term of GIDC liability as determined by the apex Court.
