Earnings Report /
Pakistan

Engro Corporation: 2QCY21 review – Impressive growth from all fronts

  • ENGRO announced 2Q21 cons. NPAT of PKR8.72bn (EPS: PKR15.13) vs PKR5.74bn (EPS: PKR9.96) in SPLY, up 52%/5% yoy/qoq.

  • Despite the decline in revenue of the Fertilizer business, net revenues jumped by 10% yoy to PKR68.5bn in 2QCY21

  • We expect that earnings in remainder of CY21 could be lower as Fertilizer and Chemical businesses profits may normalize

Intermarket Securities
24 August 2021