Fauji Fertilizer Company (FFC) disclosed its financial results for the year ended December 31, 2020 with a net profit of Rs 20.82 billion.
Profitability translated into Earnings Per Share (EPS) of Rs 16.36, which is 22% higher than last year.
The increase in profitability may be attributed to a temporary gain mainly resulting from the extinguishing and remeasuring the GIDC liability in accordance with the requirements of International Financial Reporting Standards; Court.
The company announced a final dividend of Rs 3.4 per share for the quarter with a total distribution of Rs 11.20 per share for the year 2020.
The company reached 2,487 thousand tons of urea production, while total sales revenue for the year was Rs 97.66 billion.
Despite the uncertain conditions caused by the widespread COVID-19, the company has been able to maintain uninterrupted business operations while ensuring the best health and safety standards for its employees.