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Despite these challenging times, we remain committed to our Central Idea which guides us to improve lives of all Pakistanis and have a positive impact on the society. In order to tackle the pandemic's negative impacts on
https://www.hussaindawoodpledge.com.
Overview of Financial Performance:
On the business side, Engro's consolidated revenue grew by 58% from
On a standalone basis, the Company posted a PAT of
Financial Performance - Segmental Perspective:
Fertilizers: Domestic market witnessed strong agricultural sector performance in Q1 as farm economics continued to improve, driven by better farm output prices and enhanced support pricing. The Company produced 523 KT of Urea vs. 572 KT for the comparative period due to a turnaround in one of the plants. The Company delivered quarterly Urea sales of 582 KT vs. 169 KT and Phosphate sales of 74 KT vs. 36 KT during the same period last year. As a result, the PAT for the Company stood at
Petrochemicals: During Q1 2021, international prices of PVC rose to an unprecedented level of
During Q1 2021, the Company recorded a revenue of
Connectivity: Engro continued to invest and progress in its Connectivity vertical through Engro Enfrashare strengthening its footprint to a portfolio size of 1,577 operational sites (1,265 sites in 2020), while hosting 1,681 tenancies (1,362 tenancies in 2020) and catering to all Mobile Network Operators (MNOs) in
Energy & Power:
Mining and power plant operations at Thar continued smoothly, with over a million tons of coal being supplied by the mine. The plant remained fully operational and achieved 81% availability with a load factor of 76% and a dispatch of 987 GwH to the national grid during the quarter. Meanwhile, the expansion of the mine at Thar to increase output to 7.8 million tons per annum is underway.
The Qadirpur Power Plant operates on permeate gas and is currently facing gas curtailment from the Qadirpur gas field as it continues to deplete. To make up for this shortfall, the plant has been made available on mixed mode. The Plant dispatched a Net Electrical Output of 190 GwH to the national grid with a load factor of 41% compared to 37% during similar period last year. The business posted a PAT of
Terminals: Profitability of both the LNG and chemicals terminal remained healthy for the current quarter. The LNG terminal handled 18 cargoes, delivering 52.8 bcf re-gasified LNG in to the SSGC network. The chemicals terminal had an actual throughput of 286 kT vs. 246 kT during the similar quarter last year. The increase was primarily observed in chemical volumes, offset by lower LPG handling.
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