Business
April 23, 2021
KARACHI: Engro Corporation profit jumped 148 percent to Rs14.77 billion translating into earnings per share (EPS) of Rs14.47 for the quarter ended March 31, 2021, as against profit of Rs5.94 billion and EPS of Rs5.76 in the same period last year.
The company also declared interim cash dividend of Rs12/share along with corporate results.
Engro’s consolidated revenue grew by 58 percent from Rs44.977 billion during Q1 2020 to Rs70.866 billion in Q1 2021.
Domestic market witnessed strong agricultural sector performance in Q1 as farm economics continued to improve, driven by better farm output prices and enhanced support pricing. The company produced 523KT of Urea vs 572KT for the comparative period due to a turnaround in one of the plants. The company delivered quarterly Urea sales of 582KT vs 169KT and Phosphate sales of 74KT vs 36KT during the same period last year.