Engro Corp’s Profits Fall By 4% Despite Increase in Earnings

In the quarter which ended March 31, ENGRO’s consolidated earnings were down by four percent year-on-year to Rs. 4.21 billion, while the company announced an interim cash dividend of Rs. 5 per share.

Currently ENGRO’s focus seems to be on the energy sector, especially after the divestment in the fertilizer business.

Profit from Engro Foods has been mentioned as share of income from associates in this quarter. In the same quarter of previous year, the company’s profits of Rs. 1.108 million were directly mentioned as a financial report.

The beginning of CY17 has been a tad slow for Engro Corporation, a leading conglomerate in the country. Engro Corporation Limited’s (PSX: ENGRO) posted earnings of Rs. 73.6 billion for CY16, which is four times more than those in CY15.

Earnings per share (EPS) fell to Rs. 5.42 in the Jan-Mar quarter from Rs. 7.05 in the corresponding quarter last year.

Engro Corp’s stock price fell by 0.72% or Rs. 2.62 to Rs. 360.97 at the Pakistan Stock Exchange (PSX). Net sales of the group of companies declined by 33% to Rs. 22.49 billion from Rs. 33.59 billion.