QUARTERLY Analysis vs last year Six years analysis Quarterly analysis

ANALYSIS
Rs million 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual

Turnover 26,315 28,390 24,474 30,185 109,364

Cost of Sales (16,957) (16,848) (15,034) (20,478) (69,317)
Gross Profit 9,358 11,542 9,440 9,707 40,047
Distribution Cost (2,186) (2,121) (2,616) (3,185) (10,108)
Operating profit 7,172 9,421 6,824 6,522 29,939
Finance cost (1,072) (945) (1,210) (1,641) (4,868)
Other losses
Unwinding of GIDC liability (530) (645) (414) (530) (2,119)
ECL on subsidy - (350) - (320) (670)
(530) (995) (414) (850) (2,789)
Other income
Investment Income 2,199 2,695 2,429 2,620 9,943
Dividend Income 1,260 1,256 450 1,533 4,499
3,459 3,951 2,879 4,153 14,442
Other expenses (727) (915) (630) (765) (3,037)
Profit before taxation 8,302 10,517 7,449 7,419 33,687
Provision for taxation (2,062) (7,157) (2,205) (2,213) (13,637)
Profit for the year 6,240 3,360 5,244 5,206 20,050

Analysis of Variation in Interim Results

and Final Accounts
Gross profit margin of Q1 decreased from 36% to 32% in Q4 mainly due to lower sale of imported fertilizer and higher fixed
cost owing to inflationary factors. Despite earning a benchmark other income, the cost absorption due to GST exemption,
rise in transportation and finance cost and imposition of super tax led to a reduction of net profit margin from 24% in Q1
to 17% in Q4. On overall basis, the GP margin of 37% was almost in line with last year however net profit margin of 18%
amounting to Rs 20.05 billion was 2% lower than last year.

Directors’ Report

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