FFBL annual profit down 64pc

KARACHI: Fauji Fertilizer Bin Qasim Limited (FFBL) on Monday reported a 64 percent decline in its annual net profit on an increase in its expenses.

In a statement to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs2.327 billion for the year that ended December 31, down from Rs6.390 billion the previous year.

The company skipped any payout for the said period. Earnings per share (EPS) came in at Rs1.80/share, compared with Rs4.96/share last year.

FFBL said its revenue for the period increased to Rs159.225 billion, compared with Rs110.452 billion during the same period a year earlier. However, the cost of sales rose to Rs133.357 billion, against Rs88.300 billion, which decreased the profit margins. Furthermore, other expenses of the company increased to Rs7.776 billion, against Rs2.555 billion in the year 2021.

The company said its other income for the period also decreased to Rs6.341 billion, compared with Rs9.110 billion the previous year.

FFC profit declines 8pc in 2022

Fauji Fertilizer Company Limited (FFC) reported 8 percent decline in its annual net profit, blaming increased taxes.

In a statement to the PSX, the company reported a net profit of Rs20.049 billion for the year that ended December 31, down from Rs21.896 billion the previous year. The company announced a final cash dividend of Rs3.15 per share, which is in addition to the interim dividend already paid at Rs8.98 per share.

EPS came in at Rs15.76/share, compared with Rs17.21/share last year.

FFC company said its revenue for the period increased to Rs109.363 billion, compared with Rs108.650 billion during the same period a year earlier. Other income of the company increased to Rs14.441 billion, from Rs7.919 billion. However, the company paid Rs20.049 billion in taxes, compared with Rs21.896 billion which decreased the profit margins.

Lucky Cement half-year profit up 7pc

Lucky Cement Limited posted a rise of 7 percent in its half-year net profit on an increase in its revenue.

In a statement to the PSX, the company reported a net profit of Rs18.323 billion for the half-year that ended December 31, up from Rs17.154 billion the previous year.

The company skipped any payout for the said period.

EPS came in at Rs49.32/share, compared with Rs40.66/share last year.

Lucky Cement said its revenue for the period increased to Rs219.531 billion, compared with Rs154.502 billion during the same period a year earlier. However, the cost of sales rose to Rs146.526 billion against Rs97.991 billion which decreased the profit margins. The company said its other income for the period also decreased to Rs3.083 billion, compared with Rs3.355 billion the previous year.

For the quarter that ended January 31, it declared its net profit at Rs11.391 billion, compared with Rs8.294 billion during the same period last year.