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The profit after tax of Engro Foods Limited has inched up to Rs 633.454 million in the quarter ended September 30, 2016 as compared to Rs 623.544 million earned in the same quarter in 2015. The company's earning per share stood at Rs 0.83 in this quarter against Rs 0.81 in the same quarter last year. According to the financial results, the company's net sales decreased to Rs 10.249 billion in this quarter against Rs 12.520 billion in the same quarter last year while the cost of sales reduced to Rs 8.730 billion against Rs 9.885 billion.
The company's profit before taxation increased to Rs 899.489 million in this quarter against Rs 773.068 million in the same quarter last year. The board of directors of the company in its meeting held on Wednesday resolved to comply with the tender offer requirements as set out in the take-over laws in relation to the public announcement of offer by Friesland Campina Pakistan Holding B.V. with respect to their acquisition of up to 51 percent of the shares of the company.

Copyright Business Recorder, 2016

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