Fauji Food's losses shrink by 24% during 1HCY20

News Image

MG News | July 23, 2020 at 04:47 PM GMT+05:00

0:00

July 23, 2020 (MLN): Fauji Foods Limited has announced its financial results for the half-year ended June 30, 2020, as per which, the company has incurred losses of Rs. 1.78 billion (LPS: Rs. 3.37), i.e. 24 percent lower than the losses reported in the same period of last year.

The decline in losses is a result of multiple factors, including the increase in topline revenue by 27% and a decline in gross losses by 73%. Moreover, the company reported a 43.7% and 18.4% decline in its Marketing and Administrative expenses, respectively.

Other positive highlights from the announcement included a 37% increase in non-core income and a 99% decline in non-core expenses. Furthermore, there was an almost 81% decline in the income tax expenses paid by the company during the period.

Financial Results for the six months ended June 30, 2020 (Rupees)

 

Jun-20

Jun-19

 

Revenue from contracts with customers - net

3,228,676,240

2,534,803,217

27.4%

Cost of revenue

(3,337,911,282)

(2,950,292,448)

13.1%

Gross loss

(109,335,042)

(415,489,231)

-73.7%

Marketing and distribution expenses

(435,932,690)

(773,680,145)

-43.7%

Administrative expenses

(182,514,343)

(223,715,095)

-18.4%

Loss from operations

(727,782,075)

(1,412,884,471)

-48.5%

Other income

31,436,590

22,926,792

37.1%

Other expenses

(529,030)

(78,287,315)

-99.3%

Finance costs

(1,043,731,784)

(658,333,808)

58.5%

Loss before taxation

(1,740,606,299)

(2,136,578,802)

-18.5%

Taxation

(38,628,401)

(206,602,474)

-81.3%

Loss after taxation for the period

(1,779,234,700)

(2,343,181,276)

-24.1%

Loss per share

-3.37

-4.43

-23.9%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,385.00 121,165.00
117,335.00
-1905.00
-1.60%
BRENT CRUDE 69.33 70.77
69.14
-0.19
-0.27%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.11 67.54
65.93
-0.12
-0.18%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 18, 2025 at 07:21 PM GMT+05:00

Pakistan strengthens UK trade links


July 18, 2025 at 05:36 PM GMT+05:00

Pakistan, China set to advance agricultural innovation


July 18, 2025 at 05:10 PM GMT+05:00

PSX Closing Bell: Riding High, Ending Low



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg