In a striking financial performance, Fauji Fertilizer Company (FFC) has reported a consolidated profit-after-tax of Rs25.01 billion for the quarter ending June 30, 2024. This figure represents a significant increase from the Rs12.44 billion profit recorded in the same period last year.
The company’s board of directors convened on July 30, 2024, at the Pakistan Stock Exchange (PSX) to review FFC’s financial and operational results. Following this meeting, they announced a cash dividend of Rs10 per share, equivalent to 100% for the first half of 2024. This new dividend comes in addition to the earlier interim dividend of Rs5.5 per share (55%) already declared by the company.
FFC’s substantial profit growth and generous dividend payout underscore its strong market position and effective business strategies. These results are likely to boost investor confidence and reinforce FFC’s standing in Pakistan’s fertilizer industry.
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The company’s ability to double its profits year-on-year demonstrates its capacity to leverage market opportunities and manage resources efficiently. This performance is particularly noteworthy given the current economic climate.
Investors and industry analysts will be closely watching FFC’s future moves, as this robust financial showing sets a high bar for the company’s performance in the coming quarters. The fertilizer sector, critical to Pakistan’s agricultural economy, may see increased attention following FFC’s impressive results.
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