Karachi July 28 2023: Fauji Foods Limited reported loss of PKR 499 million during the 1Q 2022 against loss of PKR 347 million in the same period last year, according to company filling to the exchange.
Company reported gross profit of PKR 169 million against gross profit of PKR 263 million in the last year as sales of the company grew by just more than one percent.
FFL share price decline 26 paisas or 3.09 percent to close the trading on 21st April 2022 at PKR 8.15 per share.
The deterioration in company’s performance came on the back of stagnant sales, increasing cost due to higher commodity prices, higher marketing expense and increased admin cost. Finance cost of the company reduced to PKR 232 million from PKR 314 million despite higher policy rate.
Fauji Foods Limited was incorporated in Pakistan on 26 September 1966 as a Public Company. The company is the subsidiary of Fauji Fertilizer bin Qasim Limited.It is principally engaged in processing and sale of toned milk, milk powder, fruit juices , allied dairy and food products.