Unity Foods rebounds with Rs51m profit

By MG News | October 29, 2024 at 01:06 PM GMT+05:00

0:00

October 29, 2024 (MLN): Unity Foods Limited (PSX: UNITY) rebounded with a profit after tax of Rs51.23 million [EPS: Rs0.04] during the quarter ending September 2024.

That compares to a loss of Rs280.99m [LPS: Rs0.24] in the same period last year (SPLY).

The company's revenue slipped 34.4% to Rs12.93bn as compared to Rs19.71bn in SPLY.

The cost of sales fell by 36.1% but was higher than proportionate to sales decline, which worsened the gross profit by 22.0% to Rs1.83bn in Q1 FY25.

The gross margins improved to 14.1% as compared to 11.9% in SPLY.

During the period under review, other income went up by 7.6% to stand at Rs248.55m in Q1 FY25 as compared to Rs231m in SPLY.

On the expense side, the company's administrative expenses fell 0.6% from a year ago to Rs201.38m, selling and distribution expenses fell 28.5% to Rs244.21m, and other operating expenses fell 81.1% to Rs2.13m.

The company’s finance cost contracted by 3.3% and stood at Rs1.59bn as compared to Rs1.65bn in SPLY.

On the tax front, the company received a tax credit worth Rs22.52m against an expense paid worth Rs431.65m in the corresponding period of last year.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	12,925,408	19,710,149	-34.42%
Cost of sales	(11,097,309)	(17,366,029)	-36.10%
Gross Profit/ (loss)	1,828,099	2,344,120	-22.01%
Administrative Expenses	(201,384)	(202,643)	-0.62%
Selling And Distribution Expenses	(244,209)	(341,308)	-28.45%
Other Gains / (Losses)	(7,956)	(222,939)	-96.43%
Other Income	248,548	231,001	7.60%
Other Operating Expenses	(2,128)	(11,279)	-81.13%
Finance Cost	(1,592,261)	(1,646,283)	-3.28%
Profit/ (loss) before taxation	28,709	150,669	-80.95%
Taxation	22,518	(431,654)	-
Net profit/ (loss) for the period	51,227	(280,985)	-
Basic earnings/ (loss) per share	0.04	(0.24)	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	130,336.15 307.24M	1.67% 2136.72
ALLSHR	81,059.69 915.21M	1.59% 1272.06
KSE30	39,885.09 127.01M	1.99% 780.09
KMI30	189,485.09 133.22M	1.37% 2569.48
KMIALLSHR	54,786.13 452.18M	1.08% 584.25
BKTi	34,962.28 50.35M	4.44% 1485.60
OGTi	28,229.47 12.54M	0.95% 266.89

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,115.00	108,340.00 105,440.00	2365.00 2.24%
BRENT CRUDE	67.68	67.70 66.94	0.57 0.85%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	103.80	0.00 0.00	-3.70 -3.44%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.99	66.02 65.23	0.54 0.83%
SUGAR #11 WORLD	15.93	15.97 15.77	0.23 1.47%