Unity Foods observes 6x higher profits than last year

April 30, 2019 (MLN):  Unity Foods Limited has posted a huge year-on-year increase in net profits to Rs186.7 million for the  nine months ended March 31st 2019, which is 6x greater than the net profits of Rs 30.6 million earned in the same period last year.

The increase in profits was  mainly due to vigorous YoY growth in sales.The company reported sales worth Rs 9.4 billion (15x higher), while the firm’s gross profits stood at Rs 875 million after accounting for the Rs 8.5 billion incurred as the cost of sales.

The company also witnessed a massive upsurge in operating expenses during the period, but it managed to make profits on the back of higher  top-line earnings.

After taking into account Finance costs worth Rs144.8 million, the company earned pre-tax profits worth Rs 201.6 million.

The company's basic and diluted earnings per share for the period  were reported at Rs 1.1per share, which was about 3 times higher than the EPS reported in last year.

Profit and Loss account for the nine months ended March 31, 2019 (Rupees)

 

Mar-19

Mar-18

%Change

Sales – net

              9,387,563,471

                  617,039,373

1421%

Cost of sales

            (8,512,318,687)

               (515,439,019)

1551%

Gross profit

                  875,244,784

                  101,600,354

761%

Distribution and selling expenses

               (226,406,215)

                  (20,594,719)

999%

Administrative expenses

               (159,323,819)

                  (65,637,220)

143%

Other operating expenses

               (150,211,874)

                                      –  

Operating profit/ (loss)

                  339,302,876

                    15,368,415

2108%

Other income

                      7,131,822

                    19,409,217

-63%

Finance costs

               (144,831,015)

                  (12,751,490)

1036%

Profit/(loss) before taxation

                  201,603,683

                    22,026,142

815%

Taxation

                  (14,855,561)

                      8,618,935

 

Profit/(loss) after taxation

                  186,748,122

                    30,645,077

509%

Earnings per share – basic and diluted

                                 1.10

                                 0.38

189%

 

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Posted on: 2019-04-30T16:20:00+05:00

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