Fauji Foods reports 13 percent enhancement in quarterly losses

MG News | April 23, 2019 at 05:51 PM GMT+05:00

0:00

April 23, 2019 (MLN): Fauji Foods Limited (FFL) has incurred a loss worth Rs.698.6 million (LPS: Rs.1.32) during quarter ended March 31, 2019 which is 13% greater that the loss reported for the corresponding quarter last year.

The company’s financial statement shows a 25% contraction in topline earnings (Rs.1.4 billion) which pulled down Gross Profit (Rs.64.7 million) by 14.6% despite considerable cut down (25.6%) in cost of sales which logged in at Rs.1.3 billion.

However, due to cut down in distribution expenses and other miscellaneous expenses and higher non- core income, the losses from operations (Rs.377.8 million) reduced by 21%.

But unfortunately, due to substantial increase in finance cost, the overall losses were enhanced despite relatively smaller tax expenses

Profit and Loss Account - For the quarter ended March 31, 2019 (Rs'000)
	Mar-19	Mar-18	% Change
Sales-net	1,385,876	1,851,730	-25.2%
Cost of Sales	(1,321,180)	(1,775,974)	-25.6%
Gross Profit	64,696	75,755	-14.6%
Administrative expenses	(115,651)	(101,942)	13.4%
Distribution Expenses	(328,674)	(434,430)	-24.3%
Other expenses	(6,942)	(23,801)	-70.8%
Other income	8,723	6,040	44.4%
Loss from operations	(377,848)	(478,376)	-21.0%
Finance cost	(307,683)	(117,828)	161.1%
Loss before taxation	(685,531)	(596,204)	15.0%
Taxation	(13,106)	(22,296)	-41.2%
Loss for the period	(698,637)	(618,500)	13.0%
Loss per share - basic and diluted (in Rupees)	(1.32)	(1.17)	12.8%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	169,864.53 309.70M	0.77% 1289.83
ALLSHR	102,725.13 871.92M	0.54% 553.85
KSE30	51,670.42 144.06M	0.97% 495.07
KMI30	244,230.82 127.19M	0.88% 2126.86
KMIALLSHR	67,141.83 400.81M	0.66% 438.06
BKTi	45,511.25 34.21M	0.74% 335.27
OGTi	33,787.05 15.45M	0.86% 288.90

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	90,330.00	93,070.00 89,640.00	-1680.00 -1.83%
BRENT CRUDE	61.22	61.86 60.81	-0.06 -0.10%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	1.00 1.11%
ROTTERDAM COAL MONTHLY	97.30	97.30 97.30	0.90 0.93%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	57.53	58.19 57.15	-0.07 -0.12%
SUGAR #11 WORLD	15.10	15.27 14.83	0.25 1.68%