Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the quarter ended March 31, 2022.
Overview of Financial Performance
During the first quarter, Engro Corporation’s standalone profitability exhibited a substantial growth of 92% and reached PKR 6.88 billion in Q1 2022 from PKR 3.59 billion in Q1 2021. The Dividend Income of the Company grew by 124% during the period reaching PKR 7.70 billion in comparison to PKR 3.43 billion during Q1 2021. The increase in dividend income and standalone profitability is primarily attributable to receipt of higher dividends from the Fertilizer and Petrochemical businesses.
On a consolidated basis, the Company’s revenue grew by 25% to PKR 88.33 billion in Q1 2022 from PKR 70.87 billion in the corresponding period. The Company posted a Profit-After-Tax (PAT) of PKR 14.90 billion, while PAT attributable to the shareholders was PKR 7.97 billion resulting in an Earnings per Share (EPS) of PKR 13.84 compared to PKR 14.47 in same period last year.
Engro Corporation announced an interim cash dividend of PKR 12/- per share for the first quarter.