The Board of Directors of Engro Corporation Limited Tuesday announced the financial results for the first quarter ended March 31.
The company posted a strong comeback with its subsidiaries truly reflecting the story of our growth – with the company’s consolidated revenue closing at PKR 38,354 million and our PAT recording an increase of 12% to PKR 2,001 million.
The company continued to receive additional gas from Mari which enabled two-plant operations leading to increase in production from 296 kt in 1Q 2013 to 456 kt in the current reporting period. Similarly, the sales increased from 298 kt to 451 kt respectively. The company recorded a 53% increase in revenue to Rs 14,896 million during 1Q 2014 vs. same period last year and its profit after tax increased from Rs 646 million in 1Q 2013 to Rs 1,437 million in 1Q 2014.
Having witnessed a difficult preceding year, Engro Foods, during 1Q 2014, maintained its trend in continuously improving performance which started with resolution of distribution issues in 4Q 2013.