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

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

October 24, 2022 (MLN): The net losses of Fauji Foodstuff Constrained (PSX: FFL) for the period of time 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 for every the fiscal assertion unveiled by the firm on Monday.

Irrespective of the losses. the organization has strengthened its retail network in northern regions and it is also penetrating the southern sector by improving its footprint in Karachi.

Resultantly, the enterprise managed to uplift its topline by 20.8% to Rs8bn in 9MCY22 on the again of an enhanced distribution network, productive procurement, and method advancement.

Having said that, the greater price of product sales resulted in a gross loss well worth Rs282mn in the assessment period.

With regards to the key costs, the enterprise observed a 37.5% YoY enlargement in terms of internet marketing and distribution expenses to clocked in at Rs1bn in 9MCY22. In the meantime, administrative charges jumped to Rs322.664mn during the period beneath critique.

In the same way, the finance charge of the firm has dropped by 5% YoY to stand at Rs909bn.

On the revenue front, the head of other cash flow posted a 2x YoY improve throughout the period of time to lock in at Rs137.76mn all through the period underneath overview.

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