KARACHI: Engro Corporation Limited posted profit after tax (PAT) at Rs2.84 billion for the first quarter of financial year 2017, translating into earning per share (EPS) at Rs5.42, down 23 per cent from PAT at Rs 3.69 billion and EPS at Rs 7.05 for the similar quarter in 2016. The company declared an interim cash dividend of Rs 5.0/share. Earnings came in line with the market expectations. The sales revenue dropped 33 percent year-on-year to Rs22.499 billion in the quarter under review.

The sales fell as the company’s key fertiliser segment, Engro Fertilizer, posted 20 percent lower sales during the three months. Nonetheless, gross margins remained intact at 30 percent. —PR