reports
- Topline Research
Flash Note: Engro Fertilizer (EFERT): 1H2018 Analyst Briefing Notes
MCB declared earnings of Rs9.4bn (EPS Rs7.95), down 30% YoY in 1H2018. This was due to 12% lower non-interest income (primarily due to lower capital gains) & higher admin charge. Advances of MCB in 2Q2018 clocked in at Rs564bn, up 11% in 2018 to date which was driven by corporate, consumer and seasonal commodity financing. The management expects advances growth of 7-8% going ahead. Gross NPL ratio of the bank also improved to 7.7% in Jun 2018 vs. 8.9% in Dec 2017 primarily due to recoveries ...
Engro Fertilizer (EFERT): 2Q2018 EPS Rs2.44, up by 31% YoY; DPS Rs4/sh...
Engro Fertilizer posted earnings growth of 31% YoY to Rs2.4/share during 2Q2018, that lies above our expectations. Earnings were higher mainly on the back of lower than anticipated effective tax rate of 33%. This was also lower than historical trend, where 2Q2017 and 2Q2016 tax rate clocked in at 42% and 52% respectively. We await management’s clarity over this issue. In line with expectations, the company’s urea gross margins hammered by 10ppts QoQ to 35% due to 1) rupee devaluation (as comp...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.