Islamabad: As per the latest news, due to increased fertilizer demand and prices, Engro Fertilizers’ profit increased 906 percent to Rs5.74 billion in the quarter ended March 31, 2021.

According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday, the company made a profit of Rs570.76 million in the same quarter last year.

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As a result, the company’s earnings per share in the January-March 2021 period were Rs4.3, up from Rs0.43 the previous quarter.

The company also announced an interim cash dividend of Rs4 per share along with the announcement of the results. From Rs10.8 billion in January-March 2020 to Rs29.4 billion in January-March 2021, the company’s net sales increased by 172.8 percent.

Moreover, despite the significant rise in urea offtake, gross margins in 1QCY21 were 39.25%, up from 33.68% in 1QCY20.

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