Fauji Fertilizer reports 10% decline in earnings

Fauji Fertilizer Company (FFC) reported earnings of PKR 9.33 per share for the quarter, in line with expectations. This marks a 10% decline year-on-year (YoY) and an 8% decline quarter-on-quarter (QoQ).

A key factor contributing to the profit drop was a 26% YoY decrease in urea offtake, which impacted overall profitability. However, other income saw a 10% QoQ increase, largely driven by PKR 3 per share from its subsidiary, Askari Bank Limited.