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FFBL earnings clocked in at Rs 1.54 per share during CY18

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
Fauji Fertilizer Bin Qasim Limited (FFBL) announced the financial result for CY18 posting a profit after tax (PAT) of Rs. 1,437mn (earning per share Rs 1.54), as compared to a PAT of Rs 1,004mn (earning per share Rs. 1.08) during same period last year.

 

On a quarterly basis, the company posted a profit after tax (PAT) of Rs 1,640mn (earning per share Rs. 1.76) during 4QCY18, in contrast to a PAT of Rs, 1,282mn (earning pr share Rs. 1.37) recorded during 4QCY17.

 

Analysts at Arif Habib Limited said that the FFBL’s topline witnessed a 6% YoY decline during 4QCY18 attributable to a 25% and 34% YoY decline in urea and DAP offtake, respectively.

 

Moreover, on a CY18 basis, net sales jumped up 17% YoY to Rs. 62bn as urea and DAP prices surged by 15% YoY and 23% YoY, respectively.

 

Margins declined slightly on a YoY basis to 14% in 4QCY18 owing to lower offtake, while recovering to 13% during CY18 (11% in CY17) mainly due to absence of urea subsidy tagged with higher urea and DAP prices.

 

Other income dropped by 27% YoY to Rs.  3.1bn during CY18 on account of absence of subsidy while surged by 94% YoY during 4QCY18 amid recognition of dividend income from subsidiary (FFBL power company).

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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