Engro Polymer posts profit of Rs1.046bln

KARACHI: Engro Polymer and Chemicals Limited has announced a net profit of Rs1.046 billion for the half-year ended June 30, 2017, multiple times higher than the profit of Rs39.99 million during the same period of the last year, a bourse filing said on Monday.

The earnings per share (EPS) for the period clocked in at Rs1.58 as compared to EPS of six paisas in the corresponding period of the last year. The company did not announce any payouts along with the corporate announcement.

The surge in profitability can be attributed to higher sales revenues, which stood at Rs13.045 billion for the half-year ended June 30, 2017, up 17 percent as compared to the sales of Rs11.161 billion last year, it added.

For the quarter ended June 30, 2017, Engro Polymer posted a net profit of Rs200.284 million, translating into EPS of 30 paisas as against profit of Rs22.164 million and EPS of three paisas during the same quarter of the last year.