ISLAMABAD: Fauji Fertilizer Company Limited (FFC) announced its financial results for the quarter ended September 30, 2023 in its Board of Directors meeting held on October 25, 2023.

The Company has earned a net profit of Rs 22.21 billion for the period ended on September 30, 2023 and registered an EPS of Rs 17.46 compared to Rs 11.67 last year. The earnings in dollarized terms stood at $80 million compared to $75 million in the previous year.

This achievement is attributable to various initiatives including Company’s continued drive for cost economization and efficiency optimization, especially in view of persistent high rates of inflation, financial cost and weak rupee.

Plant sites delivered urea output of 1,926 thousand tonnes, around 7 percent higher than last year mainly due to improved reliability of Company’s production facilities. Higher production, favourable weather and anticipation of increase in urea selling prices due to impending gas price increase resulted in a surge in sales volume to 1,911 thousand tonnes.

The Board of Directors also announced an Interim Cash Dividend for the quarter ended September 30, 2023 at Rs 3.98 per share i.e. 39.80 percent. This is in addition to Interim Dividends already paid at Rs 7.41 per share i.e. 74.10.

Copyright Business Recorder, 2023