Engro Corporation announces PAT of Rs 13.784b

KARACHI: Engro Corporation declared its year-finished results showcasing a solid execution in general in its organizations. Be that as it may, on a united premise, the stellar execution of manure, the initiation of business exercises at the LNG terminal and the consenting to of major monetary arrangements for SECMC were held under wraps by a testing business environment in its rice and polymer organizations. By and large, Engro Corporation had another extraordinary year running with record income of Rs 184,264 million as against Rs 175,958 million in 2014 on a united premise, accomplishing a 4.7% YoY top line development. In spite of the difficulties postured in some of its key organizations, the organization posted a merged benefit after-expense (owing to proprietors) of Rs 13,784 million instead of Rs 7,007 million amid 2014. Productivity was driven by Engro Fertilizers, which had another remarkable year on the back of two-plant operations attributable to proceeded with gas supply consistently. Engro Corporation effectively rebuilt its manure exchanging and rice organizations as EXIMP was procured by Engro Fertilizers while Engro EXIMP Agriproducts was obtained by Engro Corporation. Be that as it may, the productivity was somewhat balanced by misfortunes in rice business essentially because of non-money weakness loss of Rs 3,384 million booked against property, plant and hardware and stores and extras. Likewise, the petrochemicals business, in accordance with the bearish worldwide item costs, endured misfortunes because of declining Ethylene-PVC value delta. The organization likewise declared a last money profit of Rs 7/offer for the year finished December 31, 2015. Engro Powergen, an entirely possessed auxiliary of Engro Corporation, which claims and works Engro Powergen Qadirpur Limited (EPQL) and which went into a joint endeavor with the Sindh government to shape the Sindh Engro Coal Mining Company, finished overburden evacuation of 3.7 million Banked Cubic Meter (BCM) under SECMC and in addition consenting to real financing arrangements for the task in December 2015. Monetary close of the undertaking is normal inside of the year of 2016.