Margarine Industries Limited Reports Unaudited Consolidated and Standalone Earnings Results for the First Quarter Ended March 31, 2016
May 13, 2016 at 07:51 pm
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Margarine Industries Limited reported unaudited consolidated and standalone earnings results for the first quarter ended March 31, 2016. For the quarter on consolidated basis, revenue was MUR 70,525,955 against MUR 80,280,094 a year ago. Operating loss was MUR 902,136 against operating profit of MUR 3,387,428 a year ago. Loss before taxation was MUR 2,693,879 against profit before taxation of MUR 932,055 a year ago. Total comprehensive loss attributable to owners of the company was MUR 2,628,077 or MUR 8.75 per share against MUR 2,491,497 or MUR 1.86 per share a year ago. Net cash generated from operating activities was negative at MUR 14,728,465 against positive of MUR 16,196,544 a year ago.
For the quarter on standalone basis, revenue was MUR 49,947,017 against MUR 59,444,774 a year ago. Operating loss was MUR 2,230,261 against operating profit of MUR 2,957,115 a year ago. Loss before taxation was MUR 3,450,463 against profit before taxation of MUR 1,001,135 a year ago. Total comprehensive loss attributable to owners of the company was MUR 3,239,643 against MUR 2,402,535 a year ago. Net cash generated from operating activities was negative at MUR 16,126,033 against positive of MUR 5,220,668 a year ago.
Margarine Industries Limited is a manufacturer and distributer table margarine both refrigerated and non-refrigerated. The Companyâs products include table margarine spread, butter, industrial margarine, vita vanaspati and vita ghee. Table margarine is composed of vegetable fats and oils, water, ingredients and it produce margarine under the brands MIL and Tara. Spread mainly consists of vegetable fats and oils, milk, water and ingredients and it sells in two different brands namely Tara Spread and Fleur dâOr Medium Fat spread. Butter is composed of butterfat, water, milk solids and salt. It sells products under two names including, butterfly salted butterfly unsalted, butterfly cake unsalted, butterfly cake salted (plastic bag in carton box) and butterfly ruban jaune (laminated paper). Vita vanaspati is used for both shallow and deep pan frying and also for the preparation of sweets and it is available in tubs of 250 gram, 500 gram, 1 kilogram, 2.25 kilogram and 20 kilogram.