Islamabad October 25 2023: Fauji Fertilizer Company share price fall PKR 3.06 per share or 2.89 percent at Pakistan Stock Exchange after lower than expected payout announced by the company.
Company has announced an interim Cash Dividend for the quarter ended September 30, 2023 at Rs. 3.98 per share i.e. 39.80%. This is in addition to Interim Dividends already paid at Rs. 7.41 per share Le. 74.10%..
The has earned a net profit of Rs. 22.21 billion for the period ended on September 30, 2023 on higher selling price of Urea. The Company registered an EPS of Rs. 17.46 compared to Rs. 11.67 last year.
However, the earnings in dollarized terms stood at USO 80 million compared to USO 75 million in the previous year.
"This achievement is attributable to various initiatives including our continued drive for cost economization and efficiency optimization,
especially in view of persistent high rates of inflation, financial cost and weak rupee" says company management.
Our plant sites delivered urea output of 1,926 thousand tonnes, around 7% higher than last year mainly due to improved reliability of our
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.
It is worth noting that urea selling prices exhibited significant variation within the fertilizer industry, with FFC offering urea at lower selling prices by around Rs. 200 to Rs. 500 per bag compared to the market. Sona urea prices towards the close of the period stood at around Rs. 3,200 per bag in contrast to international prices hovering around Rs.7,200 per bag.