Fauji Fertilizer Bin Qasim Limited (FFBL) reported a profit of Rs8 billion after tax for the third quarter of 2024, marking a 51% increase compared to the same period last year. This growth was mainly due to better gas availability, which improved to 84% of the allocated amount, up from 54% in 2023. As a result, Urea production and sales saw significant increases of 118% and 98%, respectively, reducing the need for imports.
For the first nine months of 2024, FFBL earned a total profit after tax of Rs18.6 billion. This success was supported by a stable foreign exchange rate and favorable international margins for DAP (Di-ammonium Phosphate), an important fertilizer product. Additionally, the company’s finance costs were reduced by Rs4.8 billion, and exchange rate losses were also minimized due to the stable Pakistani rupee against the US dollar.
The improved gas supply allowed FFBL to boost its production and sales, helping the company achieve better financial results. The overall performance was further strengthened by favorable market conditions and cost reductions. These factors combined to position FFBL for continued success as it navigates the challenges of the industry and the economy.
This strong performance reflects FFBL’s ability to manage resources efficiently, benefit from favorable conditions, and reduce costs, all of which contributed to its increased profitability in 2024.
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