FFBL will announce 1QCY21 financial results on April 16, 2021, we expect the company is likely to report a net profit of PKR1,143mn (EPS 0.89) as compared to the loss of PKR 3,084mn (LPS of PKR2.36/share in 1QCY20.

Sales revenue of the company is expected to up by 28%YoY to PKR12,192mn due to an increase in DAP off-take and Prices. While on a quarterly basis, the top line of the company is likely to deteriorate by 63% QoQ to PKR 12,192mn in 1QCY21 vs. PKR 33,272mn in the preceding quarter. The decline is mainly attributed to the lower offtake of DAP and Urea due to seasonal dip.

Other income of the company is expected at PKR1,483mn (+369%YoY) supported by dividend income from its subsidies AKBL. The finance cost of the company is projected at ~PKR822mn in 1QCY21 due to a decline in interest rates and total interest-bearing debt. Consequently, due to the rise in DAP sales and prices, the company report bottomline of PKR1,143mn which translated into EPS of PKR-0.89/share.

Courtesy – Company Reports, Spectrum Research