Fauji Fertilizer Sees a 43% Profit Increase Reaching Rs. 36.4 Billion in the Initial 9 Months of 2023

 

Fauji Fertilizer Sees a 43% Profit Increase Reaching Rs. 36.4 Billion in the Initial 9 Months of 2023.

Fauji Fertilizer Company Limited (PSX: FFC) has released its financial results for the nine months ending September 30, 2023 (9MCY23).

 The company reported a consolidated profit after tax (PAT) of Rs. 36.39 billion, marking a 42.8 percent increase year-on-year (YoY) from Rs. 25.5 billion in the same period last year (SPLY). In Q3 2023, PAT stood at Rs. 15.6 billion, showing a 55 percent YoY growth from Rs. 10 billion in 3QCY22. FFC also declared an interim cash dividend of Rs. 3.98 per share for the quarter, in addition to previously paid interim dividends at Rs. 7.41 per share. 

The company attributed its earnings to initiatives focusing on cost economization and efficiency optimization, given challenges like high inflation rates, financial costs, and a weak rupee.