Rawalpindi (PNI) Fauji Fertilizer Company Limited (FFC) announced its financial results for the half year ended June 30, 2024 in its Board of Directors meeting held on July 30, 2024.
The highlight of our performance is the record return on investments and dividend income aggregating to Rs 15.8 billion compared to Rs 6.3 billion
last year.
Company has started selling its urea products through Company owned stores/ outlets thus providing farmers a channel to buy directly from the Company. Investment in this channel will benefit farmers across the country as approximately 70 such outlets are being opened in all sales districts and shall be operational by end of 3rd Quarter, 2024.
Our plants delivered 1,279 thousand tonnes of Sona Urea operating at improved efficiencies. The Company also exercised stringent cost controls to enable improved returns for the shareholders.
Sona Urea sales stood at 1,280 thousand tonnes, 3% higher than in 2023. The Company also marketed 94 thousand tonnes of urea imported by the Government of Pakistan and the aggregate urea sales thus stood at 1,374 thousand tonnes. As a result, FFC’s urea market share also improved to 46% compared to 40% during same period last year.
Consequently, net profitability of the Company stood at Rs 26.1 billion with earnings per share of Rs 20.49 compared to Rs 10.28 per share same period last year.
The Board of Directors is pleased to announce the second interim dividend of Rs 10 per share with an aggregate distribution of Rs 15.50 per share during the first half of 2024.
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