Fauji Fertilizer's profit after tax declines

The profit after tax of Fauji Fertilizer Bin Qasim Limited has declined to Rs643.860 million in the half year period ended June 30, 2012 as compared to Rs3,513.626 million earned in the corresponding period in 2011. The Board of Directors of the company in its meeting held on Friday declared that the company's earning per share declined to Re0.69 in the period under review against Rs3.76 in the same period last year.
According to the financial results sent to Karachi Stock Exchange, the company's net turnover reduced to Rs11.291 billion in the half year period this year against Rs18.017 billion in the same period last year. The cost of sales also declined to Rs8.858 billion against Rs11.087 billion. The company's profit before taxation declined to Rs783.707 billion in this period against Rs5,547.327 million in the same period last year. On quarterly basis, the company's after tax profit declined to Rs1.030 billion translating earning per share of Rs1.10 in the quarter ended June 30, 2012 against after tax profit of Rs1.955 billion with per share earning of Rs2.09 in the same quarter last year.