Friday, September 24, 2021

50% Drop in Losses reported by Fauji Foods in the second quarter of 2021

Financial Results of Fauji Foods Limited has been announced recently by the company that depicts the statistics for second quarter of 2021. Up to 50% drop in the losses by the company have been reported in the second quarter of the current year.

The company has reported a significant decrease in the loss reporting at PKR 410.86 million for the second quarter (Q2 of 2021).

Fauji Foods has struggled to regain its stray market shares but regained it by registering the 36% growth of revenue comparing to the similar quarter of 2020 in spite of a high competition and robust business environment. The company announced a loss of PKR 0.51 per share as compared to PKR 1.57.

However, the stats shared by the company show a 50.40% decrease in the loss comparing to its previous year. Fauji Foods is facing the issue of losses for more than 8-years now. The organization highlighted the loss of PKR 828.10 Million in the second quarter of 2020.

According to the official reports, the net sales were reported at a value of PKR 2.11 billion for the Fauji Foods; whereas, it was raised by 36% comparing to PKR 1.56 billion in the Q2 of 2020.

The improvement has been observed due to the change in the company’s strategy where the tweak in leadership, distribution networks, and launching of new products is improving the company’s performance along with the financial stats.

The major increase in sales of the company has managed to make a gross profit of PKR 281.59 Million comparing to the gross loss of PKR 9.01 Million of 2020 for the same quarter.

The cost of revenue of Fauji Foods for Q2 of 2021has been reported at PKR 1.83 billion compared to PKR 1.57 billion of the previous year. Moreover, due to inflation the recovery of the revenue growth was spoiled by the high input costs.

As per the sources, the sales of the company has been increased by 40 percent that is to PKR 4.49 billion comparing last year’s sale for the same period that was PKR 3.22 billion.

Mehjabeen Qasimhttps://startuppakistan.com.pk/
Business Journalist at Startup Pakistan

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