KARACHI: Engro Corporation (PSX: ENGRO) has declared 45 percent increase in annual profit to Rs44.4 billion for the year ended December 31, 2020 as compared with Rs30.59 billion in the preceding year.
Engro’s consolidated revenue grew by 10 PERCENT, from Rs225.76 billion during 2019 to Rs248.81 billion primarily attributable to higher revenue from full-year operations of Thar energy projects.
On a standalone basis, the company posted a profit after tax of Rs16.30 billion against Rs14.30 billion for the comparative year, translating into an earnings per share of Rs28.29 per share.
Increase in standalone profitability is primarily on account of higher dividends from subsidiaries as well as full inter-corporate tax relief on dividends in 2020 versus partial relief in 2019.
The company announced a final cash dividend of Rs2/- per share for the year. This is in addition to Rs24/- per share announced during the year, bringing cumulative payout to Rs26/- per share.
COVID-19: Hussain Dawood Pledge
The Covid-19 pandemic continues to be an unprecedented global challenge that is, to date, having devastating effects on public health, economies, and societies around the world. As vaccination programs roll-out globally, Pakistan is procuring Covid-19 vaccines from various manufacturers and planning to launch its Covid-19 vaccination drive in the first quarter of 2021.
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 Pakistan, Chairman Hussain Dawood, on behalf of Dawood Hercules Corporation, Engro Corporation, and his family, pledged a contribution in services, kind, and cash of Rs1 billion for short / medium / and long-term recovery. To date, Rs301 million have been donated via cash and kind with focus on disease prevention, protecting and enabling healthcare practitioners and frontline workers, enabling patient care and facilities and bolstering livelihoods and sustenance of the most deserving in society.
We believe we must remain fully transparent while attempting to make an impact and work towards saving lives. Further details regarding the Pledge and its initiatives may be viewed at