Fauji Foods: Net losses surged to Rs1.94bn in 9MCY22 – Mettis Global Link

August Goude

October 24, 2022 (MLN): The net losses of Fauji Foods Limited (PSX: FFL) for the period of nine months ended on September 30, 2022, have jumped by 63% YoY to clock in at Rs1.94 billion (LPS: Rs1.23), compared to the losses incurred in 9MCY21 Rs1.19bn (LPS: Rs1.53), as per the financial statement revealed by the company on Monday.

Despite the losses. the company has strengthened its retail network in northern regions and it is also penetrating the southern market by enhancing its footprint in Karachi.

Resultantly, the company managed to uplift its topline by 20.8% to Rs8bn in 9MCY22 on the back of an improved distribution network, efficient procurement, and process advancement.

However, the higher cost of sales resulted in a gross loss worth Rs282mn in the review period.

With regards to the major expenses, the company observed a 37.5% YoY expansion in terms of marketing and distribution expenses to clocked in at Rs1bn in 9MCY22. Meanwhile, administrative expenses jumped to Rs322.664mn during the period under review.

Similarly, the finance cost of the company has dropped by 5% YoY to stand at Rs909bn.

On the income front, the head of other income posted a 2x YoY increase during the period to lock in at Rs137.76mn during the period under review.

Copyright Mettis Link News

Posted on:2022-10-24T13:00:49+05:00


Leave a Reply

Next Post

What Is Loan Stacking? - Headway Capital Blog

By Bonnie Posted on October 10, 2022 What Is Loan Stacking? Running a business takes a lot of careful planning. Occasionally, you may require additional rounds of funding to fully execute your business goals. Some business owners may pursue loans from different small business lenders. However, loan stacking, […]