Impressive 20% YoY Growth in Profit
Engro Fertilizers Limited (EFERT) has announced its financial results for the first nine months of the calendar year 2024 (9MCY24), revealing a robust consolidated profit after tax (PAT) of Rs. 17.98 billion. This represents a significant 20% year-on-year (YoY) increase compared to Rs. 15.045 billion recorded during the same period last year. The company’s growth underscores its solid performance in the fertilizer sector, despite market challenges.
3QCY24 Profit Declines by 11% YoY
For the third quarter of 2024 (3QCY24), Engro Fertilizers posted a consolidated profit of Rs. 8.554 billion, marking an 11% YoY decline. Although this quarter showed a drop in earnings, the company’s overall year-to-date performance remains strong. These mixed results reflect the broader economic trends impacting the agricultural and fertilizer sectors during this period.
Dividend Announcement Reflects Confidence in Future Growth
In conjunction with its financial results, Engro Fertilizers announced a cash dividend of Rs. 2.50 per share, bringing the total dividend for 9MCY24 to Rs. 13.50 per share. This decision signals the company’s continued commitment to rewarding its shareholders and its confidence in future profitability, even amid fluctuating quarterly results.
Engro Fertilizers’ Commitment to Sustainable Growth
Engro Fertilizers’ ability to deliver a 20% increase in profit YoY reflects its strategic focus on operational efficiency and sustainable growth. The company’s robust financial health, alongside its dividend payout, positions it well to continue leading the market in fertilizer production and supply, while also maintaining shareholder value.
