Earnings Report /

Engro Polymer & Chemicals Ltd: 2QCY22 Result Review - Earnings beat driven by taxation

  • EPCL has posted NPAT of PKR2.3bn for 2QCY22 (EPS: PKR2.57); down 25% YoY and 50% QoQ.

  • The company also announced an interim cash dividend of PKR2.5/sh vs. our estimated DPS of PKR1.25.

  • Effective tax rate clocked in at 58% versus 25% in SPLY. The increase in tax rate is due to one-off super tax impact.

Ali Aziz Soorty
Intermarket Securities
11 August 2022


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