--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20241106-fatima-fertilizer-reports-robust-profit-growth-in-third-quarter-of-2024/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # Fatima Fertilizer reports robust profit growth in third quarter of 2024 Publication Date: 06.11.2024, 16:00 Continued strength in urea margins and reduced costs drive performance despite sales volume decline. Fatima Fertilizer Company Ltd. (FATIMA) disclosed significant profit growth in its third-quarter earnings report for the 2024 fiscal year. Released on the Pakistan Stock Exchange website on October 30, 2024, the financial results highlighted a robust 18% year-over-year increase in quarterly earnings, rising from PKR 7.8 billion (USD$ 28.12 million) in the third quarter of the previous year to PKR 9.2 billion (USD$ 33.17 million) in 3QCY24. The Lahore-based firm, engaged in the manufacture and sale of fertilizers and chemicals, also reported a striking 76.23% increase in net profits for the first nine months of the year, reaching PKR 22.77 billion, up from PKR 12.92 billion in the same period last year. Despite a downturn in sales reaching PKR 62.6 billion during the quarter, down 18% from PKR 76.2 billion in the corresponding quarter last year, the company saw a significant increase in its gross margins. Sales volumes of CAN and NP fertilizers notably decreased by 63% and 59%, respectively. However, a marginal 4% increase in urea offtakes counteracted some of the sales slumps. The gross margin improvement to 33.7% from 29.7% was attributed to higher primary margins on urea, especially from the DH and Pakarab plants, and a marked reduction in phosphate rock prices, from US$345 per ton to US$153 per ton over the past year. Additionally, the company reduced distribution expenses by 7% to PKR 3.5 billion and finance costs by 9% to PKR 960 million, reflecting lower high-speed diesel prices and decreased borrowings. Other income for the firm grew by 43%, bolstered by a 54% rise in cash and investments. Significantly, Anil Zia, Deputy Company Secretary of Fatima, announced that the Board of Directors has provisionally approved the demerger of operations related to the Multan plant, which will be transferred to Pakarab Fertilizers Limited, a fully-owned subsidiary of Fatima Fertilizer. The demerger, effective from October 1, 2024, is pending all necessary corporate, regulatory approvals, and authorizations. --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.