Engro Corporation Announces Outstanding Q1 2022 Results

Engro Corporation Announces Outstanding Q1 2022 Results

Engro Corporation (PSX: ENGRO), Pakistan’s premier conglomerate, has announced its financial results for the quarter ended March 31, 2022.

Engro Corporation’s standalone profitability increased by 92 percent during the first quarter, reaching Rs. 6.88 billion in Q1 2022 from Rs. 3.59 billion in Q1 2021.

The Company’s Dividend Income increased by 124% during the period, reaching Rs. 7.70 billion, up from Rs. 3.43 billion in Q1 2021. The increase in dividend income and standalone profitability is due primarily to higher dividends received from the Fertilizer and Petrochemical businesses.

Separately, the company’s revenue increased by 24.70 percent to Rs. 88.33 billion, up from Rs. 70.86 in the same period last year.

On a consolidated basis, the Company’s revenue increased by 25% to Rs. 88.33 billion in Q1 2022, up from Rs. 70.87 billion in the previous quarter.

Profit-After-Tax (PAT) was Rs. 14.90 billion, while PAT attributable to shareholders was Rs. 7.97 billion, resulting in an EPS of Rs. 13.84, compared to Rs. 14.47 in the same period last year.

Engro Corporation declared a first-quarter interim cash dividend of PKR 12/- per share.

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