FFBL posts loss of Rs249m in April-June quarter

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Karachi: In a notification sent to the Pakistan Stock Exchange, Fauji Fertilizer Bin Qasim (FFBL) announced that it had posted a loss of Rs249m for the quarter that ended in June.

According to the quarterly results, FFBL in the period of Jan-Jun 2017 recorded a loss of Rs384m in comparison to the corresponding last year when it had faced a loss of Rs895m. In the current quarter, the entity’s loss per share was recorded at Rs0.27 during April-June 2017 in comparison to last year’s Rs0.41 in the same period.

FFBL also declared a nominal dividend of Rs0.10 per share. The company’s shares closed at Rs37.56, up by 1.48pc on the PSX.

Another separate notification sent to the PSX by FFBL revealed that the company was interested in subscribing to 100pc of the rights shares in Fauji Foods Limited (FFL). This is expected to cost FFBL around Rs2.04b as per the letter sent to the stock exchange.