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Engro Corp Reports 62% Jump in Profits for Q1 2018

Engro Corporation's profit Increased by 62.23% to Rs. 6.83 billion in the quarter ended March 2018, mainly due to a marked improvement in Fertilizer (EFERT) and Chemical (EPCL) companies.

The conglomerate booked a profit of Rs. 4.21 billion in the same quarter of the previous year.

The earnings per share improved to Rs. 8.01 in January-March 2018 from Rs. 5.42 in the corresponding period last year.

Board of Directors has recommended interim dividend in cash from Rs. 5 per share.

Sales

The net turnover of the group of companies increased by as much as 49.04% to Rs. 33.52 billion in the quarter January-March 2018, from Rs. 22.49 billion in the corresponding period of the previous year. The fertilizer and polymer companies grew by 81% on an Annual Basis and from 28% on an annual basis to Rs. 18 billion and Rs. 8.7 billion.

The cost of sales increased to 40% to Rs. 22 billion of Rs. 15.78 billion. Sales and distribution costs increased to R65 by 23.65%. 1.83 billion of Rs. 1.48 billion.

Finance costs decreased by 6.87% to Rs. 1.22 billion of Rs. 1.31 billion. The share of income from joint ventures and associates decreased to Rs. 416.05 million of Rs. 450.36 million.

Cause of Surge

The fertilizer segment increased by 89% to 510,000 tonnes as a result of an increase in urea sales volumes, while the Polymer activities had the highest sales volume ever of 54,000 shots. tons that were 23% higher on an annual basis.

Other revenues increased by 10% on an annual basis to Rs. 2.6 billion as a result of the recognition of a one-off insurance profit of Rs. 276 million polymer companies.

Engro & # 39; s script at the fair on Rs closed. 313.10, an increase of 0.27% with a turnover of 780,900 shares.

The post Engro Corp Reports 62% Jump in Profits for Q1 2018 appeared first on News Doses.



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Engro Corp Reports 62% Jump in Profits for Q1 2018

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