Latest news with #Rs2.17
Business Recorder
3 days ago
- Business
- Business Recorder
Move to cushion PSO: Exchange rate losses adjusted into petrol prices
ISLAMABAD: To cushion Pakistan State Oil (PSO) against exchange rate losses, the federal government has adjusted its fortnightly petroleum pricing, effective June 1, 2025, by reducing the Inland Freight Equalization Margin (IFEM) and slightly increasing average of Platts with incidentals and duty. The federal government adjusted Rs2.17 per litre exchange rate losses into petrol prices which led to increase in petrol prices by Re1 per litre with effect from June 1 to 15. With a major importer, state-owned PSO has 55 percent share in total petroleum products. The Oil and Gas Regulatory Authority (OGRA) as a regulator takes PSO cost of supply to determine the fortnightly prices of petroleum products. As compared with previous fortnight (May 16-31), avg of platts with incidentals and duty reduced by 58 paisa from Rs150.46 to Rs151.04 per litre. The PSO exchange rate adjustment increased from Rs1.34 to Rs3.51 per litre. The IFEM has been brought down by Rs1.75 per litre from Rs6.30 to Rs4.55 per litre on petrol. The price of high-speed diesel (HSD) has kept unchanged by adjusting 0.05 paisa raise in ave of platts with incidentals and duty, 20 paisa increase in PSO exchange rate with 25 paisa reduction in IFEM. The petroleum levy (PL) on petrol and HSD has been kept unchanged at Rs78.02 per litre and Rs77.01 per litre. Copyright Business Recorder, 2025
Business Recorder
22-04-2025
- Business
- Business Recorder
Engro Fertilizers profit plunges 63% to Rs2.9bn in Jan-Mar 2025
Engro Fertilizers Limited posted a profit after tax (PAT) of Rs2.90 billion for the quarter ended March 31, 2025, a massive decrease of 63% as compared to Rs7.76 billion recorded in the same period last year, showed the company's consolidated financial results posted at the Pakistan Stock Exchange (PSX) on Tuesday. The company declared a cash dividend of Rs2.25/share for 1QCY25. The earnings per share stood at Rs2.17 for the said quarter, against Rs5.81 in the same period last year. Engro Fertilizer posts Rs28.3bn profit in 2024 Net sales of the company stood at Rs30.29 billion in 1QCY25, down by 58%, against Rs73.78 billion recorded in the same period last year. The cost of sales was recorded at Rs19.60 billion, down by 65% against Rs56.59 billion recorded in Jan-Mar of 2024. Resultantly, the company's gross profit stood at Rs10.68 billion in 1QCY25, against Rs17.20 billion recorded in the same period the previous year. Engro Fertilizers' selling and distribution expenses stood at Rs3.22 billion, against Rs4.39 billion recorded in the same period last year. The company's administrative expensive were recorded at Rs1.24 billion in 1QCY25, against Rs1.10 billion in 1QCY24. The finance cost increased massively by 580% to Rs1.09 billion in Jan-Mar of 2025, against Rs160.5 million in Jan-Mar of 2024. The company's profit before tax stood at Rs4.9 billion in 1QCY25, against Rs12.11 billion posted in 1QCY24.
