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Engro Corporation Quarter 1 Financial Results (Insight)

Engro Corporation Quarter 1 Financial Results (Insight)
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An insight into Engro Corporation’s Q1 Results

ECL, (Engro Corporation Limited) has just announced the financial results for its first quarter of the year which ended on March 31st, 2019.

ECL showed a profit of Rs. 6.56 billion resulting in an overall increase of 4% as compared to Rs. 6.83 million for the last period.

Because of the Higher Sale of Urea in the Fertilizer Business, the overall consolidated revenue showed a hike by 21% to Rs. 40.64 billion in comparison to Rs. 33.52 billion in the prior period.

Talking about the Cost of sales, it reported at Rs. 28.64 billion, which is more by 30.42% as compared with Rs. 21.96 billion in the prior period, taking the gross profit to Rs. 12 billion as against Rs. 11.55 billion in the corresponding year.

On a separate (Standalone) basis, ECL showed a (PAT) profit after tax of Rs 3.83 billion against Rs. 3.14 billion for the same period in the last year.

Earnings Per Share

Having a look at EPS. The company reported an EPS of Rs 7.32 per share. An interim cash dividend of PKR 7.00 per share is also announced by the company for the 1st quarter.

Admin Expenses, Selling costs, and other income

Taking specifically about Expenses. ECL has shown an increase of 61% in administrative expenses to Rs1.34 billion. However, the selling and distribution cost reduced to Rs. 1.74 billion. Meanwhile, the Finance costs were reported at Rs 1.15 billion, showing an overall increase of 5.74% as compared with last year.

Other incomes

Other incomes were also low by 0.29 billion as against the last year.

It’s worth mentioning here that recently Board of Directors has also Engro Corporation also announced the investment in Enfrashare. Get complete insight regarding the decision at https://futuristic.pk/2019/04/27/engro-corporation-all-set-to-acquire-enfrashare-for-rs7-5-billion/

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