Islamabad
\nFauji Fertilizer Company Limited (FFC) has announced its financial results for the period ended September 30, 2022 in its Board of Directors\u2019 meeting held on October 26, 2022.
\nCompany\u2019s Sona urea production of 1,808 thousand tonnes was 3% lower than last year mainly due to higher maintenance shutdown of plants during the period. Higher import prices of DAP resulted in contraction of DAP market thus the agriculture sector switched to urea. Urea demand in the Country thus increased as compared to last year.
\nThe increase in demand was met through higher production by RLNG based plants besides imports by the Government, which increased the competition in the industry. However, concerted marketing efforts enabled Sona urea sale by the Company of 1,795 thousand tonnes which was only 1% lower than last year. The Company achieved sales revenue of Rs.79.18 billion compared to Rs.73.59 billion last year.
\nThe imposition of super tax of around Rs. 4.69 billion over and above the normal tax liability, combined with higher finance cost due to higher interest rates further impacted negatively on Company\u2019s profitability. Improved income on deposits and increased payout by the group companies led to other income of Rs. 10.28 billion compared to Rs. 5.92 billion last year.
\nThe Company was thus able to arrest the decline in profitability to Rs. 14.84 billion with an EPS of 11.67, which was only 7% lower than last year. The profitability in terms of US$ was registered at USD 75 million compared to USD 101 million last year.
\nThe Board of Directors of FFC also announced third interim dividend of Rs 3.18 per share for the period.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad Fauji Fertilizer Company Limited (FFC) has announced its financial results for the period ended September 30, 2022 in its Board of Directors\u2019 meeting held on October 26, 2022. Company\u2019s Sona urea production of 1,808 thousand tonnes was 3% lower than last year mainly due to higher maintenance shutdown of plants during the period. Higher […]<\/p>\n","protected":false},"author":2,"featured_media":292055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-292038","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n