KARACHI: Engro Polymer and Chemical Ltd posted a net profit of Rs4.7 billion for the Oct-Dec quarter, up 29 per cent from a year ago.

       A stock filing on Tuesday showed the company’s full-year consolidated earnings increased 163pc to Rs15bn. It also announced a final cash dividend of Rs5.50 per share, which was higher than the industry expectations, said a note by Topline Securities.

       Net quarterly sales increased 67pc from a year ago due to a 46pc increase in PVC prices, higher volumetric sales and 8pc devaluation of the rupee against the dollar.

       The share price of the company rose 6.43pc to Rs61.21.

       Separately, Friesland- Campina Engro Pakistan Ltd told investors it made a net profit of Rs1.8bn in 2021, up 10.2 times from a year ago. Annual sales grew 18pc to Rs52bn in the 12-month period.

       According to a statement released by the company, it recorded highest-ever ice cream volumes and highest-ever revenue in the dairy and ice cream segments in 2021.

       The company’s share price decreased 5.4pc to Rs84.28.

       In a regulatory filing on the stock exchange, Engro Powergen Qadirpur Ltd said its profit for 2021 amounted to Rs1.6bn, down 23.3pc from 2020.

       The company’s revenue grew 26pc to Rs10.2bn last year. It also announced a final cash dividend of Rs6 per share, which is in addition to an interim cash dividend of Rs1.50 per share.

       Published in Dawn, February 9th, 2022