Corporate Results Roundup: MRNS and FRSM recover from last year's losses

January 30, 2019 (MLN): Among the companies not listed within KSE – 100, whose financial earnings for the period ended December 31, 2018 were released today, Mehran Sugar Mills Limited (MRNS) and Faran Sugar Mills Limited (FRSM) reported remarkable recoveries from last year’s losses.

MRNS has reported a recovery in its first quarter after incurring losses in the corresponding period last year, mainly due to substantial decline in cost of sales and company’s other expenses. The company’s profit after tax clocked in at Rs.107.7 million with EPS recorded at Rs.3.36

Similarly, FRSM recovered from 1QFY18’s loss worth Rs.147.8 million, and reported its net gains at Rs.50.4 million during 1QFY19 ended on December 31, 2018. The company’s EPS has logged in at Rs.2.02.

On the contrary, AGSML has reported its loss for 1QFY19 locked in at Rs.165.6 million, demonstrating a 14% decline in losses. The company exhibited its loss per share at Rs.2.1.

Meanwhile, EXIDE Pakistan Limited reported losses amounting to Rs. 401 million for the said period, and stated its Loss per share at Rs.51.7. The increase in the company’s losses by almost Rs. 386 million was largely prompted by increase in operating costs by 16%

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