Engro Corporation Announces Outstanding Q1 2022 Results

Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the quarter ended March 31, 2022. During the first quarter, Engro Corporation’s standalone profitability exhibited a substantial growth of 92% and reached Rs. 6.88 billion in Q1 2022 from Rs. 3.59 billion in Q1 2021. The Dividend Income of the Company grew by 124% during the period reaching Rs. 7.70 billion in comparison to Rs. 3.43 billion during Q1 2021. The increase in dividend income and standalone profitability is primarily attributable to the receipt of higher dividends from the Fertilizer and Petrochemical businesses. On a standalone basis, the company’s revenue grew by 24.70 percent to Rs. 88.33 billion as compared to Rs. 70.86 recorded in the same period last year. On a consolidated basis, the Company’s revenue grew by 25% to Rs. 88.33 billion in Q1 2022 from Rs. 70.87 billion in the corresponding period. The Company posted a Profit-After-Tax (PAT) of Rs. 14.90 billion, while PAT attributable to the shareholders was Rs. 7.97 billion resulting in an Earnings per Share (EPS) of Rs. 13.84 compared to Rs. 14.47 in the same period last year. Engro Corporation announced an interim cash dividend of PKR 12/- per share for the first quarter.