Fakiha Tariq

Fauji Fertilizer Company Limited (FFC) posted growth of 32% in revenues, 49% in gross profit and 36% in net profit in the first six months of the ongoing calendar year 2023 compared to the same period of 2022, WealthPK reports. FFC posted a gross profit of Rs31 billion and net profit of Rs13 billion on sales of Rs71 billion in the first half of CY23. The company came up with gross profit and net profit ratios of 43% and 18.2%, respectively. FFC posted earnings per share of Rs10.28 in 1HCY23.

The company recorded sales of Rs54 billion, gross profit of Rs20 billion and net profit of Rs9.5 billion in 1HCY22. The firm posted gross profit and net profit ratios of 38% and 17.5%, respectively, in 1HCY22, besides reporting EPS of Rs7.55. Fauji Fertilizer Company Limited is the largest firm registered in the fertilizer sector on the Pakistan Stock Exchange. The firm has a market capitalisation of Rs127.9 billion. FFC is the 14th largest firm registered on PSX.

1QCY22 vs 1QCY23

In 1QCY23 (January-March), FFC posted 38% increase in revenues, a huge 56% in gross profit and 24% in net profit compared to the corresponding period of CY22. FFC posted a gross profit of Rs14 billion and net profit of Rs7.73 billion on sales of Rs36 billion in the first quarter of CY23. The company came up with gross profit and net profit ratios of 40% and 21.2%, respectively. FFC posted earnings per share of Rs6.08 in 1QCY23.

FFC registered sales of Rs26 billion, gross profit of Rs9.3 billion and net profit of Rs6.2 billion, respectively, in 1QCY22. The firm posted gross profit and net profit ratios of 36% and 23.7%, respectively, in this period. The company reported EPS of Rs4.90 in 1QCY22.

2QCY22 vs 2QCY23

In the second quarter (April-June) of 2023, FFC posted 25% increase in revenue, 44% in gross profit and 59% in net profit compared to the corresponding period of CY22. FFC recorded revenue of Rs35 billion, gross profit of Rs16 billion and net profit of Rs5.3 billion in 2QCY23. The company came up with gross profit and net profit ratios of 47% and 15%, respectively. FFC posted earnings per share of Rs4.20 in this quarter.

FFC posted sales of Rs28 billion, gross profit of Rs11.5 billion and net profit of Rs3.35 billion, respectively, in 2QCY22. FFC posted gross profit and net profit ratios of 41% and 11.8%, respectively, in this quarter. The company reported EPS of Rs2.64 in 2QCY22.

Credit: INP-WealthPk