Unity Foods pronounces net gains of Rs 146mln for 1HFY19

By MG News | February 27, 2019 at 03:00 PM GMT+05:00

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February 27, 2019 (MLN): Unity Foods Limited has reported profit after tax at Rs. 146 million for the half year ended December 31, 2018, as compared to losses of Rs. 48 million earned in same period last year. The company’s EPS was stated at Rs. 0.87.

Formerly known as Taha Spinning Mills, the company’s Gross profit and Net profit margin post change in business model has been estimated at 7.2% and 2.17% respectively.

Moreover, the core expenses of the company, i.e. Administrative cost and Finance cost swelled by Rs. 39 million and Rs. 78 million respectively.

However, presence of tax rebates provided some respite to the financial positon of the company.

Profit and loss account for the half year ended December 31 2018 (Rupees)
	Dec-18	Dec-17
Sales-net	6,713,616,361
Cost of sales	-6,222,821,662
Gross profit	490,794,699
Selling, marketing and distribution expenses	-107,005,855
Administrative expenses	-84,566,512	-44,841,096
Other operating expense	-76,336,145
Operating profit	222,886,187	-44,841,096
Other income	5,807,083	7,588,998
Finance cost	-88,605,659	-10,032,145
Profit / (loss) before taxation	140,087,611	-47,284,243
Taxation
- current		-762026
- deferred	6,424,889
Profit / (loss) for the period	146,512,500	-48,046,269
Earnings / (loss) per share - basic and diluted	0.87	-1.25

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