Fatima Fertilizer Company Limited (FATIMA) has announced earnings of Rs 2.439 billion (EPS of Rs 1.16) in third quarter of CY13 (3Q2013) compared to Rs 1.417 billion (EPS of Rs 0.67) in the same period last year. Cumulatively, with 45 percent YoY higher, earnings during first nine months (January-September 13) stood at Rs 5.803 billion (EPS of Rs 2.76).
The earnings came in above market consensus estimates. According to JS Global the improved earnings in 3Q2013 are primarily attributable to 50 percent YoY higher sales led by higher urea, NP and CAN sales and 6ppt improvement in gross margin to 65 percent, besides 26 percent lower finance cost of Rs 1 billion.
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