Fauji Foods reports 13 percent enhancement in quarterly losses
By MG News | April 23, 2019 at 05:51 PM GMT+05:00
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
.jpeg)
.jpeg)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 130,686.66 280.01M |
0.26% 342.63 |
| ALLSHR | 81,305.25 897.01M |
0.35% 281.26 |
| KSE30 | 39,945.45 114.02M |
0.09% 37.19 |
| KMI30 | 190,698.05 148.61M |
0.61% 1163.05 |
| KMIALLSHR | 55,074.15 495.43M |
0.53% 290.50 |
| BKTi | 34,568.40 28.73M |
-1.07% -372.33 |
| OGTi | 28,739.35 22.59M |
1.57% 443.29 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 110,455.00 | 110,965.00 109,200.00 |
170.00 0.15% |
| BRENT CRUDE | 68.92 | 69.00 68.32 |
-0.19 -0.27% |
| RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
-0.75 -0.76% |
| ROTTERDAM COAL MONTHLY | 109.80 | 109.80 109.80 |
0.80 0.73% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
| CRUDE OIL - WTI | 67.29 | 67.50 66.65 |
-0.16 -0.24% |
| SUGAR #11 WORLD | 15.85 | 15.90 15.44 |
0.27 1.73% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Trade Balance
CPI
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|