Agritech Ltd. reports losses for 9MFY17 worth Rs. 2.9 billion
MG News | October 27, 2017 at 11:41 AM GMT+05:00
- Agritech Ltd. sales – net for the period decreased by 43.03%, amounting to a total of 3.14 billion Rupees during the nine months ended September, 30th 2017
- The loss after tax for the period reached 2.97 billion against last year’s nine month losses of Rs. 1.03 billion
| Unconsolidated Profit and Loss Account - For the Nine Months Ended, September 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR | |||
| Sales - net | 3,145,633,401 | 5,521,280,019 | -43.03% |
| Cost of Sales | 4,190,463,468 | 4,650,661,916 | -9.90% |
| Gross Profit/(Loss) | (1,044,830,067) | 870,618,103 |
|
| Selling and distribution expenses | 225,024,637 | 267,588,399 | -15.91% |
| Administrative and general expenses | 214,512,940 | 350,542,255 | -38.81% |
| Other income - net | 9,589,092 | 19,997,950 | -52.05% |
| Operating Profit/(loss) | (1,474,778,552) | 272,485,399 |
|
| Finance cost | 1,562,331,490 | 1,654,420,896 | -5.57% |
| Loss before Taxation | (3,037,110,042) | (1,381,935,497) |
|
| Taxation | 64,229,038 | 351,800,123 | -81.74% |
| Loss after Taxation | (2,972,881,004) | (1,030,135,374) |
|
| Loss per share - basic and diluted | (7.91) | (2.93) |
|
Company release on Earnings Report can be accessed here.
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