Earnings Report /
Pakistan

Fauji Fertilizer: 3QCY21 review – higher offtake and lower finance costs beat our expectation

  • FFC has posted unconsolidated NPAT of PKR6.45bn (EPS: PKR5.07) for 3QCY21, up 39% yoy

  • Gross margins have increased by 4.2ppt yoy to 38% in 3QCY21 (though lower than our expected margins of 39.7%

  • Other income has increased to PKR1.7bn (up 79% yoy) as compared with PKR0.95bn in 3QCY20

Intermarket Securities
27 October 2021