Fauji Foods incurs losses of PKR 2.4 billion in 9MCY20
MG News | October 20, 2020 at 02:56 PM GMT+05:00
October 20, 2020 (MLN): Fauji Foods Limited has suffered losses of Rs. 2.4 billion (LPS: 3.01) during the nine months ended September 20, 2020, i.e. around 27% lower than the losses witnessed in the same period of last year.
Despite managing to lift the revenue by 31%, the company suffered gross losses of Rs. 59.4 million due to increase in the cost of sales by 17%.
While the major expense heads, i.e. Marketing and Administration expenses declined by 39% and 17% respectively, the impact of it was negated by an increase of 1.5x in the non-core expenses.
The company’s finance cost increased by 17% during the period, whereas the income tax expense declined by 67%, providing some respite to its financial position.
| Financial Results for the nine months ended September 30, 2020 (Rupees) | |||
|---|---|---|---|
| Sep-20 | Sep-19 | % Change | |
| Revenue from contracts with customers | 5,319,065,655 | 4,040,543,723 | 31.6% |
| Cost of revenue | (5,378,551,388) | (4,603,990,495) | 16.8% |
| Gross (loss)/profit | (59,485,733) | (563,446,772) | -89.4% |
| Marketing and distribution cost | (648,022,616) | (1,067,087,247) | -39.3% |
| Administrative expenses | (276,524,887) | (332,540,190) | -16.8% |
| Other expenses | (25,751,015) | (10,299,207) | 150.0% |
| Other income | 79,781,329 | 75,256,829 | 6.0% |
| Finance cost | (1,418,138,441) | (1,210,499,035) | 17.2% |
| Loss before taxation | (2,348,141,363) | (3,108,615,622) | -24.5% |
| Taxation | (73,480,402) | (226,260,502) | -67.5% |
| Loss after taxation | (2,421,621,765) | (3,334,876,124) | -27.4% |
| Loss per share | (3.01) | (4.15) | -27.5% |
Copyright Mettis Link News
Related News
.jpeg)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 154,439.68 241.10M | -1.09% -1701.56 |
| ALLSHR | 94,668.16 984.91M | -0.80% -765.63 |
| KSE30 | 47,119.91 93.25M | -1.26% -600.63 |
| KMI30 | 226,125.72 147.15M | -1.17% -2674.34 |
| KMIALLSHR | 63,569.05 456.03M | -0.92% -592.28 |
| BKTi | 41,622.83 56.72M | -1.28% -538.80 |
| OGTi | 31,488.79 10.15M | -1.08% -344.95 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 116,850.00 | 117,320.00 114,850.00 | 1920.00 1.67% |
| BRENT CRUDE | 66.88 | 68.17 65.71 | 0.51 0.77% |
| RICHARDS BAY COAL MONTHLY | 84.00 | 84.00 84.00 | -1.90 -2.21% |
| ROTTERDAM COAL MONTHLY | 93.00 | 93.25 92.75 | 0.00 0.00% |
| USD RBD PALM OLEIN | 1,106.50 | 1,106.50 1,106.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 62.60 | 63.98 61.69 | 0.23 0.37% |
| SUGAR #11 WORLD | 15.81 | 15.87 15.67 | -0.01 -0.06% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Auto Sales
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|