Corporate Result: EFERT Profits declined by 85% YoY in 1QCY20

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Engro Fertilizers Limited (EFERT) has unveiled its financial results for the 1st Quarter ended March 31, 2020, as per results, the company has observed the massive decline in its net profits by around 85% YoY to Rs 570.7 Million (EPS: Rs 0.43).

The company net sales declined and stood at Rs. 10.7 Bn which ultimately declined the Gross Profit of Rs 3.63 Bn due to the lower Urea and DAP volumes.

On the cost front, the administrative expenses jumped by 27.2% YoY to Rs. 358.3 Mn whereas, the distribution & selling expenses declined to Rs. 1.05 Bn.

On the other hand, the other income of the company declined by 74% YoY to Rs 261.2 million. Meanwhile, finance cost increased by 52% YoY, from Rs 798.9 Million to Rs  1.211 Billion.

EFERT – 1st Quarter

EPS 2020 = 0.43 PKR
EPS 2019 = 3.00 PKR

Cash Dividend = NIL
Bonus Share = NIL