Qudsia Bano

Fatima Fertiliser Company Limited reported revenue of Rs98.9 million in the first nine months of the calendar year 2022 (9MCY22), registering a 29% increase over the same period of the previous year. The company's gross profit for the nine-month period stood at Rs41.1 million as opposed to Rs33.5 million during the same period of 2021. The company, however, reported a profit after tax of Rs9.8 million in 9MCY22, which was down 30% from the net profit of Rs14 million during the same period of CY21.

Performance in 2021

The company delivered sales revenue of Rs112.49 billion in 2021 compared to Rs71.27 billion in 2020, posting a 58% growth year-on-year. This was because of a rise in volumetric sales and an increase in phosphates price, which was primarily driven by higher international prices. Despite cost increases, the company reported a 50% growth in gross profit, which jumped to Rs43.1 billion from Rs28.8 billion in 2020.

This was due to the company’s commitment to manufacturing excellence. As a result, the company reported a profit after tax of Rs18.5 billion for 2021, 39% up  from Rs13.2 billion the previous year. Similarly, earnings per share increased to Rs8.80 in 2021 from Rs6.32 in 2020.

About the company

Fatima Fertilizer Company Limited was incorporated in Pakistan on December 24, 2003 under the now repealed Companies Ordinance, 1984 (now Companies Act, 2017). The principal activity of the company is production, purchase, sale, import and export of fertilizers and chemicals.

Credit : Independent News Pakistan-WealthPk