Topline Securities commented that below-than-expected result of FFBL led the stock to close down by 2.2%
Fauji Fertilizer Bin Qasim (FFBL) on Tuesday announced a profit after tax of Rs181 million in the third quarter (July-Sept) of calendar year 2015 (3QCY15), down by a massive 81% compared to Rs961 million in the same period of last calendar year.
Earnings per share (EPS) dropped to Rs0.19 compared to an EPS of Rs1.03 during the period under review.
Topline Securities commented that below-than-expected result of FFBL led the stock to close down by 2.2%.
The earnings in the third quarter took total profit in first nine months (Jan-Sep) of CY15 to Rs939 million, down 50% compared to Rs1.87 billion in the first nine months of calendar year 2014.
Sales dipped by 13% year-on-year (YoY) to Rs25 billion for Jan-Sept mainly on account of 21% contraction in di-ammonium Phosphate (DAP) offtake in nine months of calendar year 2015 (9MCY15).
Published in The Express Tribune, October 28th, 2015.
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