National Foods' profits uplifted on account of boosted sales
MG News | October 18, 2018 at 04:50 PM GMT+05:00
October 18, 2018 (MLN): National Food’s improved topline earnings brought about an increment of 22% in profit for the period July-Sept, 2018.
According to the company’s financial earnings report, National foods’ sales rose by 11.4% while its gross profits recorded a growth of 13.7% over the corresponding period of last year.
While overall expenses along with finance costs grew on the whole, a comparatively small relief from reduced tax provisions, and the higher topline earnings managed to ensure a rise in profits by Rs.82 million.
National foods also reported a 26.9% increase in its basic and diluted earnings per share as they logged in at Rs.4.15 per share against Rs.3.27 per share, previously.
| Financial Results for the first quarter ended on September 30th 2018 ('000 Rupees) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Sales | 6,209,904 | 5,573,841 | 11.41% |
| Cost of sales | (4,158,750) | (3,769,578) | 10.32% |
| Gross profit | 2,051,154 | 1,804,263 | 13.68% |
| Distribution cost | (1,122,135) | (1,013,634) | 10.70% |
| Administrative expenses | (267,335) | (198,040) | 34.99% |
| Other expenses | (41,985) | (43,235) | -2.89% |
| Other income | 13,671 | 6,543 | 108.94% |
| Operating profit | 633,370 | 555,897 | 13.94% |
| Finance costs | (56,686) | (39,841) | 42.28% |
| Profit before taxation | 576,684 | 516,056 | 11.75% |
| Taxation - net | (134,000) | (155,393) | -13.77% |
| Profit after tax | 442,684 | 360,663 | 22.74% |
| Basic and diluted earnings per share - Rupees | 4.15 | 3.27 | 26.91% |
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