Fauji Fertilizer bin Qasim's losses increase by 36% during half year ending on 30th June 2018: Earnings reports
MG News | July 31, 2018 at 09:31 AM GMT+05:00
In a Board of Directors meeting held on July 30th 2018, Fauji Fertilizer bin Qasim Limited discussed their financial earnings for the Half Year ending on June 30th 2018.
As compared to the half year ending on June 30th 2017, The Company’s Net Sales increased by 41.2% whereas Gross Profit went up remarkably by 313%.
Fauji Fertilizers managed to reduce their Administrative Expenses by 5.4% but their Other Operating Expenses increased by 1056%.
Other income dropped by 66.4%.
Overall loss after taxation increased by 36.2%.
| Profit and Loss for the Half Year Ended June 30,2018 | |||
| 2018 | 2017 | % Change | |
| Sales-net | 27,115,806 | 19,208,065 | 41.2% |
| Cost of Sales | (22,571,471) | (18,109,216) | 24.6% |
| Gross Profit /(loss) | 4,544,335 | 1,098,849 | 313.6% |
| Selling and distribution cost | (3,061,782) | (3,002,938) | 2.0% |
| Administrative expenses | (952,921) | (1,007,177) | -5.4% |
| 529,632 | (2,911,266) | -118.2% | |
| Finance costs | (2,260,366) | (1,550,935) | 45.7% |
| Other operating expenses | (759,900) | (65,549) | 1059.3% |
| (2,490,634) | (4,527,750) | -45.0% | |
| Other income | 1,103,866 | 3,288,529 | -66.4% |
| Loss before taxation | (1,386,768) | (1,239,221) | 11.9% |
| Taxation | (255,430) | 33,339 | -866.2% |
| Loss after taxation | (1,642,198) | (1,205,882) | 36.2% |
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