Fauji Fertilizer Company Limited (FFC) recently disclosed its financial results for the year concluding on December 31, 2023, indicating robust performance and substantial growth. The company’s profit after tax demonstrated a significant surge of 38.06%, reaching Rs47.45 billion compared to the corresponding period the previous year.
Throughout the fiscal year, FFC experienced notable financial achievements, with revenue witnessing a robust growth of 44.32%, reaching Rs181.38 billion. The Board of Directors declared a cash dividend of Rs4.1 per share, emphasizing the company’s dedication to delivering value to its shareholders.
Despite facing a 37.58% increase in the cost of sales, FFC’s gross profit exhibited an impressive improvement of 54.63%, amounting to Rs76.84 billion. Other incomes also saw a substantial surge of 42.27%, totaling Rs16.36 billion, contributing positively to the overall financial performance.
The economic landscape in 2023 posed challenges, marked by high inflation and interest rates. However, FFC remained resilient and committed to supplying fertilizers across the nation. The company’s steadfastness played a crucial role in supporting the national exchequer through significant tax contributions.
Looking ahead, FFC has ambitious plans for the Nodal Compression Project’s Phase II, involving a capital outlay exceeding USD 100 million. The profitability achieved in 2023 is deemed essential for building reserves for this capital-intensive project and maintaining plant standards at a world-class level.
