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Karachi, July 26, 2016 (PPI-OT): FFBL: 2Q2016 shows red again – LPS at Rs0.41 taking cumulative 1H2016 LPS to Rs0.96
Fauji Fertilizers Bin Qasim Limited (FFBL) announced its 2Q2016 result today wherein the company again posted loss of Rs381.06mn (LPS of Rs0.41) during the quarter vis-à-vis PAT of Rs660.24mn (EPS of Rs0.71) in the corresponding period last year. Cumulatively, 1H2016 loss of the company now stands at Rs894.78mn (LPS: Rs0.96) against profit of Rs758.36mn (EPS: Rs0.81) in 1H2015. Loss for the quarter was already anticipated as DAP margins remained under pressure throughout the quarter and overall offtake also remained depressed.
The company’s revenues declined by 39%YoY in 2Q2016 as both DAP prices and offtake continued to decline during the quarter. As mentioned earlier, margins remained depressed, culminating into a loss for the company.