Rafhan Maize maintains its Profit after Tax for the outgoing quarter

MG News | April 16, 2019 at 11:47 AM GMT+05:00

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April 16, 2019 (MLN): Rafhan Maize Products Company Limited has stated its Profit after Tax for the quarter ended March 31, 2019, at Rs. 1.08 billion, i.e. almost the same as the PAT of same period last year.

The company was able to maintain its profit margins due to a somewhat same increase in absolute amounts of sales revenue and cost of sales, which led to 2.48% increase in gross profit margins.

The increase in the company’s major expense heads led to a decrease of 2.5% in the operating profit margins. However, this was alleviated by a slight drop of 3.2% in Finance costs and 8.75% in tax expense.

Moreover, the company’s Earnings per Share (EPS) stood at Rs. 117.54, which is almost the same as that of same period last year.

The company also announced an interim cash dividend for the aforementioned period at Rs. 100 per share, i.e. 1000%.

Profit and loss account for the quarter ended March 31 2019 (Rupees'000)
	Mar-19	Mar-18	% Change
Sales - Net	8,585,482	7,082,317	21.22%
Cost of sales	-6,704,148	-5,246,513	27.78%
Gross profit	1,881,334	1,835,804	2.48%
Distribution expenses	-217,820	-171,870	26.74%
Administrative expenses	-144,385	-106,997	34.94%
Other income	60,681	63,774	-4.85%
Other expenses	-104,028	-107,017	-2.79%
Operating Profit	1,475,782	1,513,694	-2.50%
Finance Cost	-5,190	-5,365	-3.26%
Profit before taxation	1,470,592	1,508,329	-2.50%
Taxation	-384,929	-421,856	-8.75%
Profit after taxation	1,085,663	1,086,473	-0.07%
Earnings per share-Basic and diluted (Rupees)	117.54	117.63	-0.08%

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