Engro Foods earns Rs 1.10 billion with 3.7% growth

KARACHI: Engro Foods Limited has posted 3.7 percent growth in its profits during the third quarter of the current fiscal year.

In its announcement to the PSX, the company in its condensed interim profit and loss report announced profit for the period at Rs1.10 billion as compared to Rs1.06 billion announced in the same period of the last year.

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During the quarter, the company announced earnings per share (EPS) of Rs1.45 as compared to Rs1.39 same quarter last year. It did not announce any dividend. Net sales of EFoods remained at Rs11.74 billion during the period under review against Rs12.48 billion last year, while cost of sales remained low at Rs8.43 billion as compared to Rs9.14 billion last year.

Although other income remained low at Rs55.84 million against Rs92.48 million, a decline in the finance cost at Rs102.19 million from Rs266.65 million translated the revenue of the company into profit.