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