Karachi October 14 2024: Engro Fertilizers Limited, the second largest urea manufacturer of Pakistan, cash payout for the 3Q disappoints investors as company share price drops PKR 8.16 or 4.12 percent after the announcement at Pakistan Stock Exchange.
Company announced cash payout of PKR 2.5 per share for the 3Q of current calendar year 2024.
Company profitability dropped 10.7 percent in 3Q to PKR 8.5 billion from PKR 9.6 billion in the same quarter last year.
Lower sales and lower margins have dented the company’s profitability during this quarter.
Engro Fertilizers Limited is a public company incorporated in Pakistan on June 29, 2009 as a wholly owned subsidiary of Engro Corporation Limited (the Holding Company), which is a subsidiary of Dawood Hercules Corporation Limited (the Ultimate Parent Company). The Company is engaged in the manufacturing, purchasing and marketing of fertilizers, seeds and pesticides and providing logistics services.
