Ibrahim Yousaf
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- Apr 11, 2020
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Engro Corporation Limited (ENGRO), a prominent Pakistani conglomerate, reported a consolidated profit-after-tax (PAT) of Rs10.38 billion for the quarter ending March 31, 2024, marking an 18% increase from the previous year's Rs8.8 billion.
This data, disclosed by the company's financial results posted at the Pakistan Stock Exchange (PSX) on Thursday, translates to an Earnings Per Share (EPS) of Rs10.66 in 1QCY24, compared to Rs8.18 in the same period last year.
During the company's board meeting on Thursday, April 25, an interim cash dividend of Rs11 per share was announced. Engro Corporation's revenue saw a significant uptick, growing by almost 49% to Rs104.3 billion in 1QCY24 from Rs72.1 billion in 1QCY23. Additionally, the company's gross profit surged by over 53% to Rs27.59 billion, compared to Rs17.99 billion in the previous period.
Despite a decline in other income by 10% year-over-year, registering at Rs3.48 billion during 1QCY24 compared to Rs3.87 billion in the corresponding period last year, Engro's financials remained robust. The company incurred a finance cost of Rs4.04 billion in 1QCY24 but also gained Rs631.04 million during the same period.
This led to a profit before tax (PBT) of Rs19.33 billion in 1QCY24, reflecting a substantial increase of nearly 76%. Engro Corporation paid taxes amounting to Rs8.9 billion during this period, as opposed to Rs4.88 billion in the same period last year.
This data, disclosed by the company's financial results posted at the Pakistan Stock Exchange (PSX) on Thursday, translates to an Earnings Per Share (EPS) of Rs10.66 in 1QCY24, compared to Rs8.18 in the same period last year.
During the company's board meeting on Thursday, April 25, an interim cash dividend of Rs11 per share was announced. Engro Corporation's revenue saw a significant uptick, growing by almost 49% to Rs104.3 billion in 1QCY24 from Rs72.1 billion in 1QCY23. Additionally, the company's gross profit surged by over 53% to Rs27.59 billion, compared to Rs17.99 billion in the previous period.
Despite a decline in other income by 10% year-over-year, registering at Rs3.48 billion during 1QCY24 compared to Rs3.87 billion in the corresponding period last year, Engro's financials remained robust. The company incurred a finance cost of Rs4.04 billion in 1QCY24 but also gained Rs631.04 million during the same period.
This led to a profit before tax (PBT) of Rs19.33 billion in 1QCY24, reflecting a substantial increase of nearly 76%. Engro Corporation paid taxes amounting to Rs8.9 billion during this period, as opposed to Rs4.88 billion in the same period last year.