FFBL posts profit of Rs656.52 million

KARACHI: The Fauji Fertilizer Bin Qasim Limited (FFBL) has announced a net profit of Rs656.52 million, translating into the earnings per share (EPS) of 41 paisas for the second quarter ended June 30, 2021, compared with the loss of Rs321.82 million and the loss per share (LPS) of 25 paisas in the corresponding quarter of the last year, a bourse filing said.

The company did not announce any payout along with the financial results.

The sales revenue for the quarter increased 13.7 per cent to Rs21.15 billion as against the sales of Rs18.6 billion in the same period of the last year.

The company’s finance costs declined 47.82 per cent to Rs1.2 billion during the period under review, compared with Rs2.31 billion in the same period of 2020.

Moreover, other income increased multiple times to Rs1.49 billion, including Rs1.13 billion as the share of profit from associates and joint ventures.

For the half-year ended June 30, 2021, Fauji Fertilizers posted a net profit of Rs1.8 billion, translating into the earnings per share (EPS) of Rs1.29 as against the loss of Rs3.22 billion and the LPS of Rs2.78 in the same period of the last year.

FFBL also announced amalgamation of its wholly-owned subsidiary FFBL Foods Limited into FFBL with effect from September 30, 2021.

In this regard, the paid-up capital of FFBL Foods, comprising Rs298.50 million divided into 29.85 million shares will be cancelled.

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