EFERT continues to shine

EFERT: Engro Fertilizer Ltd
FINANCIAL RESULTS: FOR THE FIRST QUARTER ENDED MARCH 31, 2024

Cash Dividend: An interim cash dividend for the first quarter ended March 31, 2024, at Rs. 8.00 per share, i.e., 80%.

EPS: Rs. 6.6 (last year, Rs. 4.13 in the same quarter last year)

EFERT continues to shine. Remarkable first quarter performance.

Sales surged impressively by 61%. Gross profit witnessed even more remarkable growth, soaring by 113% to Rs. 18.3 billion, driven by improved operational efficiency and a widened gross profit margin, which expanded from 26% to 34%.

Profit before tax surged by 90% to Rs. 13.8 billion, despite a decline in other income.

The growth in profit after tax got restricted to 60% due to higher taxation at 36% compared to 24% in the same quarter last year.

On a consolidated basis, EFERT has posted an EPS of Rs. 8.08, substantially higher than Rs. 3.3 last year.

Today EFERT closed at Rs.154.14 gaining Rs. 6.12 up 4.14%. Year to date it has gained over 37.4% and in one year the price gain is over 77%.

Download its results announcement.

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