Karachi April 17 2023: Engro fertilizer reported profit of PKR 4.4 billion for the first quarter ended March 2023 compared with Profit of PKR 5.5 billion in the same period last year, according to company filing to the exchange.
Company announced an Interim cash dividend for ordinary shareholders for the period ended March 31, 2023, Rs 3.50 per share i.e. 35.00%.
Decline in profit vs the preceding year is primarily attributable to inflationary pressures and higher gas prices. The company recorded a revenue increase of 19% compared to 2022 mainly because of higher urea prices.
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