Wednesday, January 27, 2021

EFERT earnings up by 3% YoY 

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

EFERT announced 1QCY19 financial result today, where the company posted consolidated earnings of PKR 4,007mn (EPS: PKR 3.00), up by 3% YoY.

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During 1QCY19, sales surged by a massive 30% YoY to PKR 24bn, mainly due to 42% YoY jump in DAP offtake along with 28% YoY and 21% YoY surge in urea and DAP prices, respectively.

Gross margin declined to 32% during the period under review compared to 1CY18 levels (~40%) was a result of 14% YoY lower urea offtake along with lower DAP realized margins.

Other income depicted a 12% YoY decline to PKR 2.1bn in 1QCY19 amid absence of urea subsidy.

Financial charges jumped by 52% YoY to 799mn during 1QCY19 amid higher interest rate during the period.

The company booked effective taxation at 27% during 1QCY19.

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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