Unity Foods records Rs1bn loss in three months

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By MG News | October 03, 2024 at 04:13 PM GMT+05:00

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October 03, 2024 (MLN): Unity Foods Limited (PSX: UNITY) recorded a loss after tax of Rs1.04 billion [LPS: Rs0.87] during April-June quarter, compared to a profit of Rs1.39bn [EPS: Rs1.17] earned in the same period last year (SPLY).

The company's revenue plunged 39.5% to Rs11.75bn as compared to Rs19.41bn in SPLY. Gross profit fell 72.1% to Rs1.04bn in Q4 FY24.

The gross margins worsened to 8.9% as compared to 19.2% in SPLY.

During the period under review, other income jumped 111.1% to Rs381.09m in Q4 FY24 as compared to Rs180.5m in SPLY.

On the expense side, the company's administrative expenses fell 5.0% from a year ago to Rs203.18m, while selling and distribution expenses fell 14.5% to Rs113.31m.

The company’s finance cost surged by 58.8% and stood at Rs1.97bn as compared to Rs1.24bn in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 11,748,074 19,412,430 -39.48%
Cost of sales (10,705,629) (15,683,305) -31.74%
Gross Profit/ (loss) 1,042,445 3,729,125 -72.05%
Administrative Expenses (203,181) (213,892) -5.01%
Selling And Distribution Expenses (113,308) (132,480) -14.47%
Other Gains / (Losses) 11,683 (332,997) -
Provision Reversed / (Charged) (152,563) - -
Other Income 381,094 180,495 111.14%
Other Operating Expenses - (12,107) -
Finance Cost (1,974,519) (1,243,604) 58.77%
Net profit/ (loss) for the period (1,036,332) 1,392,473 -
Basic earnings/ (loss) per share (0.87) 1.17 -

Amount in thousand except for EPS

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