Engro Polymer posts profit

Engro Polymer & Chemicals has announced a net profit of Rs845.886 million for the nine months period ended March 30, 2017, a mammoth surge against the profit of Rs17.828 million in the same period of the last year.

The company posted EPS of Rs1.27 for the period under review as compared to Rs0.03 in the same period of the last year. Engro did not declare any payouts along with the corporate announcement.

The surge in profit can be attributed to higher sales, which went up 20 percent to Rs6.812 billion for the nine months ended March 30, 2017 as against Rs5.739 billion in the corresponding period of the last year.