Profit after tax of Rafhan Maize Products increases
KARACHI: The profit after taxation of Rafhan Maize Products Limited has increased to Rs 1.512 billion in the nine month period ended September 30, 2011 as compared to Rs 1.457 billion earned in the corresponding period in 2010. The board of directors of the company, in its meeting held on Monday, declared that the earning per share of the company has increased to Rs 163.79 in the period under review against Rs 157.75 in the same period last year.
According to the financial results sent to Karachi Stock Exchange, the company’s net sales increased to Rs 13.867 billion in the nine-month period this year against Rs 10.238 billion in the same period last year. The cost of sales increased to Rs 11.019 billion against Rs 7.613 billion.
The company’s profit before taxation increased to Rs 2.374 billion in the nine-month period this year against Rs 2.234 billion in the same period last year. On quarterly basis, the company’s profit after taxation increased to Rs 527.764 million translating into earning per share of Rs 57.14 in the quarter ended September 30, 2011 against the after tax profit of Rs 504.451 million with earning per share of Rs 54.62 in the same quarter last year.