Friday, October 23, 2020

EFERT earnings up by 3% YoY 

Featured

GIP releases inaugural annual report at second plenary meeting

The Second Plenary Meeting of the Green Investment Principles for the Belt and Road (GIP) was held today in...

Pakistan re-elected as member UNHRC

Pakistan has been re-elected to the United Nations Human Rights Council (HRC) with an overwhelming majority securing 169 votes...

Indonesia to host Trade Expo Indonesia 2020 Virtually

The Government of Indonesia is once again hosting its biggest annual international business exhibition, the Trade Expo Indonesia (TEI)...
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.

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.

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]

Latest News

New York authorities preparing for possible riots after the election

New York City Mayor Bill de Blasio announced that the major American city authorities are preparing for possible unrest...

Trump: 180 million Americans would miss health care plans if Biden came to power

US President Donald Trump did not stop attacking his rival in the US presidential election, Democratic candidate Joe Biden, sending a message to Americans,...

The European Court of Human Rights condemns Turkey of violating the right to freedom of expression

The European Court of Human Rights has convicted Turkey of violating the right to freedom of expression of two university students who have been...

GIP releases inaugural annual report at second plenary meeting

The Second Plenary Meeting of the Green Investment Principles for the Belt and Road (GIP) was held today in Beijing, with over 130 representatives...

Pakistan re-elected as member UNHRC

Pakistan has been re-elected to the United Nations Human Rights Council (HRC) with an overwhelming majority securing 169 votes in the 193-member UN General...

Related News