Unity Foods records Rs1bn loss in three months
MG News | October 03, 2024 at 04:13 PM GMT+05:00
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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