Fauji Fertilizer Company Limited (FFC) has announced its financial results for the quarter ended March 31, 2021, with a net profit of Rs 5.82 billion translating into an Earning Per Share of Rs 4.57 which was 36% higher than the last year.
The company also declared a first interim dividend of Rs 3.50 per share for the quarter.
FFC attained urea production of 628 thousand tonnes, operating at combined efficiency of 123%, and registered aggregate sales revenue of Rs 21.59 billion which was  5% higher than the first quarter of last year. Other income of the Company also increased due to higher dividend distribution by an associated company.
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Fauji Fertilizer Company Limited was able to maintain uninterrupted business operations including continued supply chain, besides maintaining the highest standards of health and safety for the employees under the adverse conditions of Covid-19.
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In last year’s annual financial report, the company announced its financial results for the year ended December 31, 2020, with a net profit of Rs 20.82 billion.
Last year’s increase in profitability is primarily attributable to a temporary gain on extinguishment and re-measurement of GIDC liability under the requirements of the International Financial Reporting Standards, which shall reverse in the next four years during the repayment term of GIDC liability as determined by the apex Court.