Fauji Fertilizer Company Limited (FFC) quarterly income statement

Fauji Fertilizer Company Limited reported revenue of Rs 120.6 bn for Q2 FY2026 (Apr – Jun 2026), up 13.1% on Q2 FY2025. Gross profit came to Rs 41.3 bn, a gross margin of 34.2%. Operating profit was Rs 26.9 bn (an operating margin of 22.3%). Finance cost was Rs 2.2 bn, up 17.2% on Q2 FY2025. Tax of Rs 13.1 bn took 36.8% of pre-tax profit. Profit attributable to shareholders was Rs 22.2 bn, up 12.8% on Q2 FY2025, or Rs 15.43 per share.

FFC income statement (quarterly) (Rs bn)
Rs bn	TTM to Jun 2026	Q2 FY2026 Apr – Jun 2026	Q1 FY2026 Jan – Mar 2026	Q4 FY2025 Oct – Dec 2025	Q3 FY2025 Jul – Sep 2025	Q2 FY2025 Apr – Jun 2025	Q1 FY2025 Jan – Mar 2025	Q4 FY2024 Oct – Dec 2024	Q3 FY2024 * Jul – Sep 2024	Q2 FY2024 Apr – Jun 2024	Q1 FY2024 Jan – Mar 2024	Q4 FY2023 Oct – Dec 2023	Q3 FY2023 Jul – Sep 2023	Q2 FY2023 Apr – Jun 2023	Q1 FY2023 * Jan – Mar 2023	Q4 FY2022 Oct – Dec 2022	Q3 FY2022 * Jul – Sep 2022	Q2 FY2022 Apr – Jun 2022	Q1 FY2022 Jan – Mar 2022	Q4 FY2021 Oct – Dec 2021	Q3 FY2021 * Jul – Sep 2021
Revenue	531.6	120.6	109.6	161.3	140.2	106.6	75.7	226.7	124.8	64.5	62.3	46.7	52.2	42.8	39.7	32.9	30.7	33.5	28.5	36.7	31.2
Cost of revenue	(370.0)	(79.3)	(75.2)	(120.9)	(94.6)	(69.5)	(50.0)	(168.5)	(76.8)	(28.3)	(43.7)	(27.4)	(32.6)	(20.6)	(23.9)	(22.8)	(16.8)	(18.1)	(18.4)	(25.0)	(19.1)
Gross profit	161.7	41.3	34.3	40.4	45.6	37.1	25.7	58.2	48.0	36.2	18.6	19.3	19.6	22.2	15.7	10.2	13.9	15.4	10.2	11.7	12.1
Selling, general & administrative expenses	(41.3)	(11.6)	(9.4)	(10.5)	(9.9)	(10.3)	(7.4)	(14.5)	(9.3)	(5.9)	(6.5)	(6.2)	(3.5)	(3.4)	(3.5)	(3.9)	(2.9)	(2.7)	(2.4)	(3.0)	(2.2)
Operating profit	108.7	26.9	22.7	26.9	32.2	24.2	16.3	39.8	34.9	27.8	10.2	11.0	14.5	17.3	10.7	5.0	10.0	11.1	6.5	7.2	8.5
Finance cost	(7.8)	(2.2)	(2.3)	(1.6)	(1.7)	(1.9)	(1.9)	(3.3)	(2.8)	(1.5)	(1.6)	(1.6)	(1.7)	(1.6)	(1.7)	(1.9)	(1.5)	(1.2)	(1.3)	(1.1)	(0.7)
Profit before tax	142.3	35.5	30.3	37.3	39.1	33.8	26.0	48.7	49.1	37.5	21.6	18.0	20.3	21.6	12.6	11.0	13.0	15.4	11.2	14.6	19.4
Taxation	(52.9)	(13.1)	(10.3)	(15.4)	(14.0)	(13.5)	(8.4)	(23.5)	(23.3)	(12.5)	(8.9)	(6.9)	(4.7)	(9.1)	(4.2)	(2.1)	(2.9)	(8.6)	(2.6)	(3.0)	(2.7)
Profit after tax	89.4	22.5	20.0	21.9	25.1	20.3	17.6	25.3	25.7	25.0	12.7	11.1	15.6	12.4	8.3	8.9	10.1	6.8	8.6	11.6	16.7
Profit attributable to shareholders	87.9	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Per share & other
EPS – basic (Rs) Rs	61.43	15.43	13.62	15.14	17.24	14.28	12.39	17.53	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS – diluted (Rs) Rs	61.43	15.43	13.62	15.14	17.24	14.28	12.39	17.53	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
Dividend per share (Rs) Rs	41.00	14.50	8.50	8.50	9.50	12.00	7.00	21.00	0.00	10.00	5.50	4.10	3.98	3.15	4.26	3.15	3.18	2.10	3.70	4.65	3.75
EBITDA	123.9	29.9	25.5	29.7	38.8	26.6	18.6	42.9	39.5	28.9	12.0	12.6	15.6	18.6	12.0	6.5	11.1	12.4	7.7	8.4	9.3
Depreciation & amortisation	15.1	2.9	2.8	2.8	6.6	2.4	2.3	3.1	4.6	1.1	1.8	1.6	1.2	1.3	1.3	1.5	1.2	1.3	1.2	1.3	0.8
Weighted average shares mn	1,438.9	1,438.9	1,438.7	1,423.2	1,423.1	1,378.4	1,404.4	1,423.1	1,423.0	1,272.2	1,261.1	1,272.5	1,272.2	1,272.1	1,260.5	1,272.2	1,272.2	1,271.2	1,265.0	1,272.9	1,272.1

FFC income statement — year-on-year change (Rs mn)
Rs mn	Q2 FY2026 Apr – Jun 2026	Q1 FY2026 Jan – Mar 2026	Q4 FY2025 Oct – Dec 2025	Q3 FY2025 Jul – Sep 2025	Q2 FY2025 Apr – Jun 2025	Q1 FY2025 Jan – Mar 2025	Q4 FY2024 Oct – Dec 2024	Q3 FY2024 * Jul – Sep 2024	Q2 FY2024 Apr – Jun 2024	Q1 FY2024 Jan – Mar 2024	Q4 FY2023 Oct – Dec 2023	Q3 FY2023 Jul – Sep 2023	Q2 FY2023 Apr – Jun 2023	Q1 FY2023 * Jan – Mar 2023	Q4 FY2022 Oct – Dec 2022	Q3 FY2022 * Jul – Sep 2022	Q2 FY2022 Apr – Jun 2022	Q1 FY2022 Jan – Mar 2022	Q4 FY2021 Oct – Dec 2021	Q3 FY2021 * Jul – Sep 2021
Revenue	+13.1%	+44.7%	-28.8%	+12.3%	+65.2%	+21.5%	+385.8%	+139.1%	+50.7%	+57.0%	+41.7%	+70.1%	+27.7%	+39.1%	-10.3%	-1.6%	+40.1%	+26.7%	+22.5%	+19.0%
Cost of revenue	+14.2%	+50.4%	-28.3%	+23.1%	+145.2%	+14.6%	+515.6%	+135.5%	+37.4%	+82.4%	+20.3%	+94.5%	+13.9%	+30.4%	-9.1%	-12.0%	+19.1%	+34.0%	+16.4%	+12.5%
Gross profit	+11.2%	+33.7%	-30.6%	-4.9%	+2.5%	+37.7%	+201.7%	+145.2%	+63.0%	+18.4%	+89.6%	+40.7%	+44.0%	+54.8%	-12.7%	+14.7%	+76.5%	+15.4%	+37.8%	+30.8%
Selling, general & administrative expenses	+12.1%	+26.4%	-27.5%	+6.0%	+74.2%	+14.6%	+132.1%	+163.4%	+73.7%	+82.8%	+59.6%	+21.8%	+24.2%	+50.4%	+29.9%	+30.4%	+30.5%	+10.3%	-9.0%	+21.3%
Operating profit	+11.3%	+39.7%	-32.3%	-7.8%	-13.1%	+59.3%	+261.7%	+141.0%	+60.7%	-5.0%	+120.0%	+45.3%	+55.7%	+64.0%	-30.4%	+17.6%	+128.3%	+10.0%	+65.8%	+24.2%
Finance cost	+17.2%	+18.3%	-53.0%	-37.6%	+29.3%	+17.2%	+104.5%	+66.2%	-5.6%	-5.5%	-16.3%	+10.7%	+31.1%	+34.8%	+84.1%	+109.1%	+153.7%	+162.2%	+91.9%	+97.4%
Profit before tax	+5.2%	+16.6%	-23.4%	-20.4%	-9.9%	+20.5%	+170.9%	+141.4%	+73.8%	+71.6%	+63.6%	+56.0%	+40.5%	+11.8%	-24.9%	-32.8%	+108.5%	+32.3%	-7.0%	+86.1%
Taxation	-2.7%	+23.7%	-34.3%	-40.1%	+7.7%	-6.0%	+238.9%	+395.6%	+36.6%	+109.8%	+229.2%	+60.4%	+6.7%	+60.1%	-29.9%	+7.2%	+372.4%	+6.4%	-25.3%	+25.8%
Profit after tax	+10.5%	+13.2%	-13.3%	-2.5%	-18.8%	+39.1%	+128.3%	+64.8%	+101.1%	+52.1%	+24.4%	+54.7%	+83.3%	-3.1%	-23.6%	-39.4%	+22.2%	+43.0%	-0.7%	+102.0%
Profit attributable to shareholders	+12.8%	+12.6%	-13.6%	-2.7%	-20.0%	+38.5%	+126.2%	+66.3%	+103.9%	+52.1%	+24.1%	+55.1%	+84.6%	-3.5%	-23.7%	-41.3%	+17.6%	+42.3%	-0.6%	+102.0%
Per share & other
EPS – basic (Rs)	+8.1%	+9.9%	-13.6%	-2.7%	-26.1%	+24.4%	+102.2%	+48.7%	+103.9%	+52.1%	+24.1%	+55.1%	+84.4%	-3.1%	-23.6%	-41.3%	+17.8%	+43.2%	-0.8%	+102.2%
EPS – diluted (Rs)	+8.1%	+9.9%	-13.6%	-2.7%	-26.1%	+24.4%	+102.2%	+48.7%	+103.9%	+52.1%	+24.1%	+55.1%	+84.4%	-3.1%	-23.6%	-41.3%	+17.8%	+43.2%	-0.8%	+102.2%
Dividend per share (Rs)	+20.8%	+21.4%	-59.5%	—	+20.0%	+27.3%	+412.2%	-100.0%	+217.5%	+29.1%	+30.2%	+25.2%	+50.0%	+15.1%	-32.3%	-15.2%	-19.2%	+5.7%	+36.8%	+47.1%
EBITDA	+12.3%	+37.4%	-30.6%	-1.9%	-8.2%	+55.0%	+240.5%	+152.5%	+55.5%	-0.1%	+95.0%	+40.4%	+50.6%	+55.3%	-23.5%	+19.6%	+116.8%	+14.0%	+63.0%	+22.3%
Depreciation & amortisation	+22.5%	+21.7%	-9.7%	+42.7%	+113.0%	+30.8%	+93.8%	+295.5%	-14.1%	+41.8%	+9.3%	-1.2%	+5.1%	+6.8%	+16.1%	+39.3%	+49.7%	+42.5%	+48.5%	+5.7%
Weighted average shares	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Change against the same quarter a year earlier; shown when the earlier figure is positive.

FFC income statement — common size (Rs mn)
Rs mn	Q2 FY2026 Apr – Jun 2026	Q1 FY2026 Jan – Mar 2026	Q4 FY2025 Oct – Dec 2025	Q3 FY2025 Jul – Sep 2025	Q2 FY2025 Apr – Jun 2025	Q1 FY2025 Jan – Mar 2025	Q4 FY2024 Oct – Dec 2024	Q3 FY2024 * Jul – Sep 2024	Q2 FY2024 Apr – Jun 2024	Q1 FY2024 Jan – Mar 2024	Q4 FY2023 Oct – Dec 2023	Q3 FY2023 Jul – Sep 2023	Q2 FY2023 Apr – Jun 2023	Q1 FY2023 * Jan – Mar 2023	Q4 FY2022 Oct – Dec 2022	Q3 FY2022 * Jul – Sep 2022	Q2 FY2022 Apr – Jun 2022	Q1 FY2022 Jan – Mar 2022	Q4 FY2021 Oct – Dec 2021	Q3 FY2021 * Jul – Sep 2021
Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Cost of revenue	(65.8%)	(68.7%)	(74.9%)	(67.4%)	(65.2%)	(66.1%)	(74.3%)	(61.5%)	(43.9%)	(70.1%)	(58.7%)	(62.5%)	(48.1%)	(60.3%)	(69.1%)	(54.7%)	(54.0%)	(64.3%)	(68.2%)	(61.1%)
Gross profit	34.2%	31.3%	25.1%	32.6%	34.8%	33.9%	25.7%	38.5%	56.1%	29.9%	41.3%	37.5%	51.9%	39.7%	30.9%	45.3%	46.0%	35.7%	31.8%	38.9%
Selling, general & administrative expenses	(9.6%)	(8.6%)	(6.5%)	(7.0%)	(9.7%)	(9.8%)	(6.4%)	(7.4%)	(9.2%)	(10.4%)	(13.3%)	(6.8%)	(8.0%)	(8.9%)	(11.8%)	(9.4%)	(8.2%)	(8.3%)	(8.2%)	(7.1%)
Operating profit	22.3%	20.7%	16.7%	23.0%	22.7%	21.5%	17.6%	28.0%	43.1%	16.4%	23.6%	27.7%	40.4%	27.1%	15.2%	32.5%	33.1%	23.0%	19.6%	27.2%
Finance cost	(1.8%)	(2.1%)	(1.0%)	(1.2%)	(1.8%)	(2.5%)	(1.5%)	(2.2%)	(2.3%)	(2.6%)	(3.5%)	(3.2%)	(3.6%)	(4.4%)	(5.9%)	(4.9%)	(3.5%)	(4.5%)	(2.9%)	(2.3%)
Profit before tax	29.5%	27.7%	23.2%	27.9%	31.7%	34.3%	21.5%	39.3%	58.1%	34.6%	38.6%	38.9%	50.4%	31.7%	33.4%	42.5%	45.8%	39.4%	39.9%	62.2%
Taxation	(10.9%)	(9.4%)	(9.6%)	(10.0%)	(12.6%)	(11.0%)	(10.4%)	(18.7%)	(19.4%)	(14.3%)	(14.9%)	(9.0%)	(21.4%)	(10.7%)	(6.4%)	(9.6%)	(25.6%)	(9.3%)	(8.2%)	(8.8%)
Profit after tax	18.6%	18.2%	13.6%	17.9%	19.1%	23.3%	11.1%	20.6%	38.8%	20.3%	23.7%	29.9%	29.0%	21.0%	27.0%	32.9%	20.2%	30.1%	31.7%	53.4%
Profit attributable to shareholders	18.4%	17.9%	13.4%	17.5%	18.5%	23.0%	11.0%	20.2%	38.1%	20.2%	23.6%	29.1%	28.2%	20.8%	27.0%	31.9%	19.5%	30.0%	31.7%	53.4%
Per share & other
EBITDA	24.8%	23.3%	18.4%	27.6%	24.9%	24.6%	18.9%	31.6%	44.8%	19.2%	27.0%	30.0%	43.5%	30.2%	19.6%	36.3%	36.9%	27.1%	23.0%	29.9%
Depreciation & amortisation	2.4%	2.6%	1.7%	4.7%	2.3%	3.1%	1.4%	3.7%	1.8%	2.9%	3.4%	2.2%	3.1%	3.2%	4.4%	3.8%	3.7%	4.1%	3.4%	2.7%

Each line as a percentage of revenue.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. TTM = the latest four quarters added together. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 103

FFC income statement — all reported line items (Rs bn)
Rs bn	Q2 FY2026 Apr – Jun 2026	Q1 FY2026 Jan – Mar 2026	Q4 FY2025 Oct – Dec 2025	Q3 FY2025 Jul – Sep 2025	Q2 FY2025 Apr – Jun 2025	Q1 FY2025 Jan – Mar 2025	Q4 FY2024 Oct – Dec 2024	Q3 FY2024 Jul – Sep 2024	Q2 FY2024 Apr – Jun 2024	Q1 FY2024 Jan – Mar 2024	Q4 FY2023 Oct – Dec 2023	Q3 FY2023 Jul – Sep 2023	Q2 FY2023 Apr – Jun 2023	Q1 FY2023 Jan – Mar 2023	Q4 FY2022 Oct – Dec 2022	Q3 FY2022 Jul – Sep 2022	Q2 FY2022 Apr – Jun 2022	Q1 FY2022 Jan – Mar 2022	Q4 FY2021 Oct – Dec 2021	Q3 FY2021 Jul – Sep 2021
Revenue from Goods & Services	120.6	109.6	161.3	140.2	106.6	75.7	226.7	124.8	64.5	62.3	46.7	52.2	42.8	39.7	32.9	30.7	33.5	28.5	36.7	31.2
Sales of Goods & Services - Net - Unclassified	120.6	109.6	161.3	140.2	106.6	75.7	226.7	124.8	64.5	62.3	46.7	52.2	42.8	39.7	32.9	30.7	33.5	28.5	36.7	31.2
Revenue from Business Activities - Total	120.6	109.6	161.3	140.2	106.6	75.7	226.7	124.8	64.5	62.3	46.7	52.2	42.8	39.7	32.9	30.7	33.5	28.5	36.7	31.2
Cost of Operating Revenue	79.3	75.2	120.9	94.6	69.5	50.0	168.5	76.8	28.3	43.7	27.4	32.6	20.6	23.9	22.8	16.8	18.1	18.4	25.0	19.1
Cost of Revenues - Total	79.3	75.2	120.9	94.6	69.5	50.0	168.5	76.8	28.3	43.7	27.4	32.6	20.6	23.9	22.8	16.8	18.1	18.4	25.0	19.1
Selling, General & Administrative Expenses - Total	11.6	9.4	10.5	9.9	10.3	7.4	14.5	9.3	5.9	6.5	6.2	3.5	3.4	3.5	3.9	2.9	2.7	2.4	3.0	2.2
Selling, General & Administrative Expenses - Unclassified	11.2	9.2	10.5	—	10.3	7.4	14.9	—	6.0	5.5	3.9	3.4	3.1	3.3	3.6	2.9	2.4	—	2.6	—
Depreciation in Cost of Revenues	3.0	2.6	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation in Selling, General & Administrative Expenses	0.3	0.2	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Operating Expense/(Income) - Net	2.8	2.2	3.0	3.6	2.6	2.0	4.0	3.8	2.5	2.0	2.1	1.6	1.5	1.5	1.3	1.1	1.6	1.3	1.5	1.4
Cost of Revenues - Other - Total	76.3	72.6	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit - Industrials/Property - Total	41.3	34.3	40.4	45.6	37.1	25.7	58.2	48.0	36.2	18.6	19.3	19.6	22.2	15.7	10.2	13.9	15.4	10.2	11.7	12.1
Operating Expenses - Total	93.7	86.9	134.4	108.0	82.4	59.4	186.9	89.9	36.7	52.1	35.7	37.7	25.5	28.9	27.9	20.7	22.4	22.0	29.5	22.7
Selling, General & Administrative Expenses - Other - Total	—	—	0.0	—	0.0	0.0	(0.4)	—	(0.1)	1.0	2.3	0.1	0.3	0.2	0.3	0.0	0.4	—	0.4	—
Operating Profit before Non-Recurring Income/(Expense)	26.9	22.7	26.9	32.2	24.2	16.3	39.8	34.9	27.8	10.2	11.0	14.5	17.3	10.7	5.0	10.0	11.1	6.5	7.2	8.5
Financing Income/(Expense) - Net - Total	(2.2)	(2.3)	(1.6)	(1.7)	(1.9)	(1.9)	(3.3)	(2.8)	(1.5)	(1.6)	(1.6)	(1.7)	(1.6)	(1.7)	(1.9)	(1.5)	(1.2)	(1.3)	(1.1)	(0.7)
Interest Expense - Net of (Interest Income)	2.2	2.3	1.6	1.7	1.9	1.9	3.3	2.8	1.5	1.6	1.6	1.7	1.6	1.7	1.9	1.5	1.2	1.3	1.1	0.7
Other Operating Expense	2.8	2.2	3.0	3.6	2.6	2.0	4.0	3.8	2.5	2.0	2.1	1.6	1.5	1.5	1.3	1.1	1.6	1.3	1.5	1.4
Interest Expense - Net of Capitalized Interest	2.2	2.3	1.6	1.7	1.9	1.9	3.3	2.8	1.5	1.6	1.6	1.7	1.6	1.7	1.9	1.5	1.2	1.3	1.1	0.7
Provision for Doubtful Accounts & Write-off	—	—	0.0	—	0.0	0.0	(0.4)	—	(0.1)	1.0	2.3	0.1	0.3	0.2	0.3	0.0	0.4	—	0.4	—
Equity Earnings/(Loss) - before Taxes including Non-Recurring	5.6	5.6	7.8	4.2	6.7	6.5	1.2	8.2	6.1	8.9	4.9	3.8	2.8	(0.3)	4.7	1.8	2.4	3.6	3.4	3.1
Other Non-Operating Income/(Expense) - Total	5.3	4.3	4.1	4.4	4.8	5.1	11.1	8.7	5.1	4.1	3.8	3.7	3.0	3.8	3.3	2.8	3.0	2.4	2.2	1.7
Non-Recurring Adjustments - Non-Operating - Decrease/(Increase)	—	—	(0.1)	—	—	—	0.1	—	—	—	(0.0)	—	—	—	—	—	—	—	—	—
Normalized Pre-tax Profit	35.5	30.3	37.3	39.1	33.8	26.0	48.8	49.1	37.5	21.6	18.0	20.3	21.6	12.6	11.0	13.0	15.4	11.2	11.7	12.6
Non-Recurring Income/Expense - Total	—	—	0.1	—	—	—	(0.1)	—	—	—	0.0	—	—	—	0.0	0.0	—	—	2.9	6.8
Impairment - Tangible & Intangible Fixed Assets	—	—	(0.1)	—	—	—	0.1	—	—	—	(0.0)	—	—	—	—	—	—	—	—	—
Impairment - Fixed Assets	—	—	(0.1)	—	—	—	0.1	—	—	—	(0.0)	—	—	—	—	—	—	—	—	—
Non-Recurring Income/(Expense) - Other - Total	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	0.0	—	—	2.9	6.8
Provision for Income Tax Expense- Unclassified	13.1	10.3	15.4	14.0	13.5	8.4	23.5	23.3	12.5	8.9	6.9	4.7	9.1	4.2	2.1	2.9	8.6	2.6	3.0	2.7
Income before Taxes	35.5	30.3	37.3	39.1	33.8	26.0	48.7	49.1	37.5	21.6	18.0	20.3	21.6	12.6	11.0	13.0	15.4	11.2	14.6	19.4
Income Taxes	13.1	10.3	15.4	14.0	13.5	8.4	23.5	23.3	12.5	8.9	6.9	4.7	9.1	4.2	2.1	2.9	8.6	2.6	3.0	2.7
Net Income after Tax	22.5	20.0	21.9	25.1	20.3	17.6	25.3	25.7	25.0	12.7	11.1	15.6	12.4	8.3	8.9	10.1	6.8	8.6	11.6	16.7
Income before Discontinued Operations & Extraordinary Items	22.5	20.0	21.9	25.1	20.3	17.6	25.3	25.7	25.0	12.7	11.1	15.6	12.4	8.3	8.9	10.1	6.8	8.6	11.6	16.7
Net Income before Minority Interest	22.5	20.0	21.9	25.1	20.3	17.6	25.3	25.7	25.0	12.7	11.1	15.6	12.4	8.3	8.9	10.1	6.8	8.6	11.6	16.7
Minority Interest	0.2	0.4	0.4	0.6	0.6	0.2	0.3	0.5	0.4	0.1	0.0	0.5	0.4	0.1	0.0	0.3	0.3	0.0	(0.0)	—
Net Income after Minority Interest	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Income Available to Common Shares	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Other Comprehensive Income - Starting Line	22.5	20.0	21.9	25.1	20.3	17.6	25.3	25.7	25.0	12.7	11.1	15.6	12.4	8.3	8.9	10.1	6.8	8.6	11.6	16.7
Other Comprehensive Income - Unrealized Investment Gain/(Loss)	0.0	(0.0)	0.0	(0.1)	0.0	0.0	0.0	0.0	0.1	0.1	0.1	(0.0)	0.0	(0.1)	(0.1)	0.1	(0.1)	(0.1)	(0.1)	(0.0)
Other Comprehensive Income - Associated Companies	(8.5)	3.3	(0.2)	6.5	0.2	(1.0)	5.8	7.3	(0.6)	2.1	(2.4)	0.8	0.3	1.2	(0.1)	1.5	(0.5)	(1.1)	0.4	(0.3)
Other Comprehensive Income - Pension Related	—	—	0.6	—	—	—	0.7	—	—	—	(0.2)	—	—	—	0.8	—	—	—	0.1	—
Other Comprehensive Income - Net of Tax - Total	(8.5)	3.3	0.4	6.4	0.2	(1.0)	6.5	7.4	(0.5)	2.2	(2.5)	0.8	0.4	1.1	0.6	1.6	(0.6)	(1.1)	0.4	(0.3)
Comprehensive Income before Minority Interest - Total	14.0	23.2	22.3	31.5	20.5	16.7	31.8	33.1	24.5	14.9	8.6	16.4	12.8	9.4	9.4	11.7	6.2	7.4	12.1	16.4
Comprehensive Income - Attributable to Parent Company Equity Holders - Total	14.0	23.2	22.3	31.5	20.5	16.7	31.8	33.1	24.5	14.9	8.6	16.4	12.8	9.4	9.4	11.7	6.2	7.4	12.1	16.4
DPS - Common - Gross - Issue - By Period End Date Rs	14.50	8.50	8.50	9.50	12.00	7.00	21.00	0.00	10.00	5.50	4.10	3.98	3.15	4.26	3.15	3.18	2.10	3.70	4.65	3.75
Net Income - Basic - including Extraordinary Items Applicable to Common - Total	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Income available to Common excluding Extraordinary Items	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Shares used to calculate Basic EPS - Total mn	1,438.9	1,438.7	1,423.2	1,423.1	1,378.4	1,404.4	1,423.1	1,423.0	1,272.2	1,261.1	1,272.5	1,272.2	1,272.1	1,260.5	1,272.2	1,272.2	1,271.2	1,265.0	1,272.9	1,272.1
EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs	15.43	13.62	15.14	17.24	14.28	12.39	17.53	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs	15.43	13.62	15.14	17.24	14.28	12.39	17.53	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs	15.43	13.62	15.10	17.24	14.28	12.39	17.57	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	6.87	7.75
Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Earnings Allocation Factor - Basic - Issue Specific	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×
Shares used to calculate Basic EPS - Issue Specific mn	1,438.9	1,438.7	1,423.2	1,423.1	1,378.4	1,404.4	1,875.3	1,423.0	1,272.2	1,261.1	1,272.5	1,272.2	1,272.1	1,260.5	1,272.2	1,272.2	1,271.2	1,265.0	1,272.9	1,272.1
EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs	15.43	13.62	15.14	17.24	14.28	12.39	13.30	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs	15.43	13.62	15.14	17.24	14.28	12.39	13.30	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs	15.43	13.62	15.10	17.24	14.28	12.39	13.33	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	6.87	7.75
EPS - Basic from Discontinued Operations & Extraordinary Items Rs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Comprehensive Earnings Per Share - Basic - Issue Specific Rs	9.73	16.15	15.67	22.13	14.88	11.87	16.93	23.26	19.26	11.78	6.76	12.90	10.07	7.48	7.43	9.21	4.88	5.89	9.48	12.87
Net Income - Diluted - including Extraordinary Items Applicable to Common - Total	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Diluted Income available to Common excluding Extraordinary Items	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Shares used to calculate Diluted EPS - Total mn	1,438.9	1,438.7	1,423.2	1,423.1	1,378.4	1,404.4	1,423.1	1,423.0	1,272.2	1,261.1	1,272.5	1,272.2	1,272.1	1,260.5	1,272.2	1,272.2	1,271.2	1,265.0	1,272.9	1,272.1
EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs	15.43	13.62	15.14	17.24	14.28	12.39	17.53	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs	15.43	13.62	15.14	17.24	14.28	12.39	17.53	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs	15.43	13.62	15.10	17.24	14.28	12.39	17.57	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	6.87	7.75
Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific	22.2	19.6	21.6	24.5	19.7	17.4	24.9	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	11.6	16.7
Earnings Allocation Factor - Diluted - Issue Specific	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×
Shares used to calculate Diluted EPS - Issue Specific mn	1,438.9	1,438.7	1,423.2	1,423.1	1,378.4	1,404.4	1,875.3	1,423.0	1,272.2	1,261.1	1,272.5	1,272.2	1,272.1	1,260.5	1,272.2	1,272.2	1,271.2	1,265.0	1,272.9	1,272.1
EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs	15.43	13.62	15.14	17.24	14.28	12.39	13.30	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs	15.43	13.62	15.14	17.24	14.28	12.39	13.30	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	9.15	13.10
EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs	15.43	13.62	15.10	17.24	14.28	12.39	13.33	17.72	19.33	9.96	8.67	11.92	9.48	6.55	6.98	7.68	5.14	6.76	6.87	7.75
EPS - Diluted from Discontinued Operations & Extraordinary Items Rs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Comprehensive Earnings Per Share - Diluted - Issue Specific Rs	9.73	16.15	15.67	22.13	14.88	11.87	16.93	23.26	19.26	11.78	6.76	12.90	10.07	7.48	7.43	9.21	4.88	5.89	9.48	12.87
DPS - Common - Gross - Issue - By Announcement Date Rs	8.50	8.50	9.50	12.00	7.00	21.00	0.00	10.00	5.50	4.10	3.98	3.15	4.26	3.15	3.18	2.10	3.70	4.65	3.75	2.60
DPS - Common - Net - Issue - By Announcement Date Rs	7.65	7.65	8.55	10.80	6.30	18.90	0.00	9.00	4.95	3.69	3.58	2.84	3.83	2.84	2.86	1.89	3.33	4.19	3.38	2.34
Earnings before Interest & Taxes (EBIT)	26.9	22.7	26.9	32.2	24.2	16.3	39.8	34.9	27.8	10.2	11.0	14.5	17.3	10.7	5.0	10.0	11.1	6.5	7.2	8.5
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA)	29.9	25.5	29.7	38.8	26.6	18.6	42.9	39.5	28.9	12.0	12.6	15.6	18.6	12.0	6.5	11.1	12.4	7.7	8.4	9.3
Depreciation & Amortization - Supplemental	2.9	2.8	2.8	6.6	2.4	2.3	3.1	4.6	1.1	—	—	—	1.3	1.3	1.5	1.2	1.3	1.2	1.3	0.8
Depreciation Expense - Total - Supplemental	2.9	2.8	2.8	6.6	2.4	2.3	3.1	4.6	1.1	—	—	—	1.3	1.3	1.5	1.2	1.3	1.2	1.3	0.8
Depreciation - Financial Lease Right-of-Use Assets - Supplemental	0.0	0.0	0.1	0.0	—	0.0	0.5	0.8	—	—	—	—	0.0	0.0	0.3	0.3	0.3	0.2	0.3	0.0
Depreciation, Depletion & Amortization - Total	2.9	2.8	2.8	6.6	2.4	2.3	3.1	4.6	1.1	1.8	1.6	1.2	1.3	1.3	1.5	1.2	1.3	1.2	1.3	0.8
Depreciation - Total	2.9	2.8	2.8	6.6	2.4	2.3	3.1	4.6	1.1	1.8	1.6	1.2	1.3	1.3	1.5	1.2	1.3	1.2	1.3	0.8
Amortization of Intangible Assets excluding Goodwill - Total	0.0	0.0	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Normalized after Tax Profit	22.5	20.0	21.8	25.1	20.3	17.6	25.3	25.7	25.0	12.7	11.1	15.6	12.4	8.3	8.9	10.1	6.8	8.6	8.7	9.9
Normalized Net Income from Continuing Operations	22.5	20.0	21.8	25.1	20.3	17.6	25.3	25.7	25.0	12.7	11.1	15.6	12.4	8.3	8.9	10.1	6.8	8.6	8.7	9.9
Normalized Net Income - Bottom Line	22.2	19.6	21.5	24.5	19.7	17.4	25.0	25.2	24.6	12.6	11.0	15.2	12.1	8.3	8.9	9.8	6.5	8.6	8.7	9.9
Earnings before Interest & Taxes (EBIT) - Normalized	37.8	32.6	38.9	40.8	35.7	27.9	52.1	51.8	39.0	23.2	19.6	22.0	23.1	14.3	12.9	14.5	16.5	12.5	12.8	13.3
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized	40.7	35.4	41.6	47.3	38.1	30.3	55.2	56.4	40.1	25.0	21.2	23.2	24.5	15.6	14.4	15.7	17.8	13.7	14.1	14.2
Depreciation of Financial Lease Right-of-Use Assets	0.0	0.0	0.1	0.0	—	0.0	0.5	0.8	—	—	—	—	0.0	0.0	0.3	0.3	0.3	0.2	0.3	0.0
Interest Expense	2.2	2.3	1.6	1.7	1.9	1.9	3.3	2.8	1.5	1.6	1.6	1.7	1.6	1.7	1.9	1.5	1.2	1.3	1.1	0.7
Operating Expenses	93.7	86.9	134.4	108.0	82.4	59.4	186.9	89.9	36.7	52.1	35.7	37.7	25.5	28.9	27.9	20.7	22.4	22.0	29.5	22.7
Selling, General & Administrative Expenses excluding Research & Development Expenses	11.6	9.4	10.5	9.9	10.3	7.4	14.5	9.3	5.9	6.5	6.2	3.5	3.4	3.5	3.9	2.9	2.7	2.4	3.0	2.2
Income before Taxes & Provision for Loan Losses	35.5	30.3	37.3	39.1	33.8	26.0	48.7	49.1	37.5	21.6	18.0	20.3	21.6	12.6	11.0	13.0	15.4	11.2	14.6	19.4
Cost of Revenue including Operation & Maintenance (Utility) - Total	79.3	75.2	120.9	94.6	69.5	50.0	168.5	76.8	28.3	43.7	27.4	32.6	20.6	23.9	22.8	16.8	18.1	18.4	25.0	19.1
Cost of Revenues excluding Depreciation	76.3	72.6	120.9	94.6	69.5	50.0	168.5	76.8	28.3	43.7	27.4	32.6	20.6	23.9	22.8	16.8	18.1	18.4	25.0	19.1
DPS - Common - Gross - Issue - By Payable Date Rs	8.50	8.50	9.50	12.00	7.00	21.00	0.00	10.00	5.50	4.10	3.98	3.15	4.26	3.15	3.18	2.10	3.70	4.65	3.75	2.60
DPS - Common - Gross - Issue - By Ex Date Rs	8.50	8.50	9.50	12.00	7.00	21.00	0.00	10.00	5.50	4.10	3.98	3.15	4.26	3.15	3.18	2.10	3.70	4.65	3.75	2.60
Tax Adjusted Operating Income	23.6	21.1	22.5	25.6	20.8	18.7	26.7	26.7	25.6	13.5	12.0	16.4	13.0	9.4	10.5	10.9	7.1	9.5	12.5	17.3
Operating Expenses excluding Non-Cash Charges - Total	90.7	84.0	131.6	101.5	80.0	57.1	183.8	85.3	35.6	50.3	34.1	36.6	24.2	27.7	26.5	19.5	21.2	20.8	28.3	21.9
Income Available to Common Shares before Depreciation & Amortization	25.2	22.4	24.3	31.1	22.1	19.7	28.0	29.8	25.7	14.3	12.6	16.3	13.4	9.5	10.3	11.0	7.8	9.7	12.9	17.5
Fixed Charges	2.2	2.3	1.6	1.7	1.9	1.9	3.3	2.8	1.5	1.6	1.6	1.7	1.6	1.7	1.9	1.5	1.2	1.3	1.1	0.7
Estimated Tax Rate	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×	0.29×
Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs	8.50	8.50	9.50	12.00	7.00	21.00	0.00	10.00	5.50	4.10	3.98	3.15	4.26	3.15	3.18	2.10	3.70	4.65	3.75	2.60

Every line the company reported, in the original order and wording, without regrouping or signs changed.