Chairman Fauji Foods Lt Gen (retd) Khalid Nawaz inaugurated the newly revamped Fauji Foods Limited’s dairy processing facility, which is the first of its kind in Pakistan. PHOTO: EXPRESS/ File
KARACHI: Fauji Foods announced its financial results for January-March, where the company reported a loss of Rs619 million compared to a loss of Rs447 million in the previous year.
The result was better than street expectations, stated Topline Securities.
Fauji Foods’ share price increased from Rs36.21 to Rs37.58 with over 7.5 million shares changing hands on Monday. This was primarily on the back of improvement in margins, which were up from 0.4% in 1Q2017 to 8.9% in 1Q2018.
Sales for the company stood at Rs1.95 billion compared to sales of Rs1.27 billion recorded for the quarter ended on March 31, 2017, showing an increase of 53%.
Other income declined slightly to Rs6 million, down from Rs6.5 million in the same quarter of the previous year. Finance cost increased from Rs76.3 million to Rs135.2 million in the three-month period of 2018.
Published in The Express Tribune, April 24th, 2018.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ