Fauji Fertilizer Company Limited (PSX: FFC) has announced a significant increase in its financial performance for the nine months ending September 30, 2024. The company reported an unconsolidated profit after tax (PAT) of Rs. 42.5 billion, marking a 92% rise compared to Rs. 22.2 billion in the same period last year.

In the first quarter of FY25, FFC posted a PAT of Rs. 16.48 billion, an 80% increase from Rs. 9.1 billion in the corresponding period last year. Despite the strong financial results, the company did not declare any dividend payouts for the period under review.

The company’s net sales reached Rs. 165 billion in the first nine months of CY24, reflecting a 43% increase. Gross margins were recorded at 45% during this period. FFC attributed its robust performance to exceptional returns on investments and dividend income, which together amounted to approximately Rs. 25 billion.

FFC’s production facilities operated at optimal capacity, producing 1,900 thousand tons of Sona Urea. Sales of Sona Urea totaled 1,864 thousand tons, supplemented by the marketing of 94,000 tons of government-imported urea. The company’s total urea sales reached 1,958 thousand tons, resulting in an improved market share of 43%, up from 39% in the same period last year.

Other income for the company increased by 98% to Rs. 24.84 billion, while finance costs rose to Rs. 4.18 billion during the review period. FFC paid Rs. 26.4 billion in taxes over the nine months of CY24.

The company reported earnings per share (EPS) of Rs. 12.95 for 1QFY25 and an EPS of Rs. 33.45 for the nine-month period of CY24.

On the stock market, FFC’s share price closed at Rs. 278.3, down 2.17% or Rs. 6.16, with a turnover of 5.8 million shares on Monday.