KARACHI - Showing robust growth both in sales and profitability, the fertilizer companies' profit grew by 45 per cent during (January to September 2008) nine months of running calendar year 2008. The total profit (after tax deduction) of all the listed fertilizer companies increased to Rs11.489b in nine months of Calendar Year08, which is 45.02pc higher than Rs7.923b of same period of last Calendar Year07. This sharp upsurge was mainly attributed to steep increase in the sales revenue which witnessed almost 25.28pc growth over the same period last year. The statistics showed that 8pc decline has been registered in the production of fertilizer of companies as total production of fertilizer was 3.498 million tons in 9 months of current Calendar Year 08 over 3.775 million tons of same period of last year07. Meanwhile, a marginal decline of 4pc registered in the sales of fertilizer as total sale of commodity reached to 3.804 million tons in nine months of current CY08 over 3.648 million tons of corresponding periods of last CY07. The report said the urea sales volume of the fertilizer sector during 9M/CY08 were 18.22pc higher in comparison with 1H/07 whereas its prices also showed a stout trajectory with an average 4.52pc monthly rise. However, DAP sales of the sector were dismal and were down by 64.20pc over the same period last year, report said and pointed out that the main reason for this decrease was soaring DAP prices internationally which caused local prices to increase substantially by an average monthly rate of 13.74pc since December '07 despite government subsidy of Rs470 per bag. The government tried to halt this trend by increasing DAP subsidy to Rs1000 but continuing local currency depreciation against US dollar during this period diluted this increase and caused further rise in prices, an analyst observed. Currently, the international prices have gone down to around $900 dollar per ton and with the Rs/US$ parity of Rs83, the cost of a DAP bag is estimated to be around Rs 3,735 in local market. Highlighting over the performance of fertilizer companies, report said that FFC showed impressive results during 9M/CY08 with a growth profit of 38.27pc over the same period last year while its sales grew by 28.22pc. FFC's cost of sales grew by 21.47pc along with a 15.90pc increase in distribution costs during 9 months of running CY08. Increase in the other income was marginal at 9.51pc due to lower dividends from FFBL but a surprising 13.82pc dwindle in the financial charges resulted in a healthy Profit After Tax (PAT growth). Similarly, FFBL's financial performance during 9M/CY08 was poor with a negative PAT growth of 64.77% over the corresponding period last year. Its sales were up by 16.01pc over the same period last year while cost of sales increased by 21.51pc. Meanwhile, ENGRO's profit grew by 110.93pc during 9M/CY08 over the same period last year while its sales were marginally up by 12.22pc, report said. ENGRO's operating performance improved during the 9M/CY08 as its Gross Profit increased by 61.24pc on account of increased urea sales and increased urea and NPK margins, observed the report. The financial performance of Dawood Hercules (DAWH) was outstanding in 9M/CY08 as revenue of the company showed a 90.47% increase on the back of 24.72pc growth in the urea sales volume. The increase in cost of sales had been registered at 80.18pc over the same period last year.