Rafhan Maize Company Limited reported growth of 41.5% in its net profit, which amounted to Rs 9.64 million during January-March 2016, according to a notification sent to the Pakistan Stock Exchange on Tuesday.
The food and culinary ingredients manufacturer also reported earnings per share of Rs 104.45 for the quarter ended March 31, up 41.5% compared to Rs 73.79 it earned in the same quarter of the previous year.
Following the result announcement, Rafhan’s share price appreciated by 5% compared to Rs 8,137 of the previous day and closed at Rs 8,544 per share at the end of market on Tuesday with 140 shares being traded during the day.
Rafhan Maize, which deals in various products of corn, reported Rs 6.4 billion in revenues during the quarter. This is an increase of 7.9% compared to Rs 6.01 billion the company earned in sales during the corresponding period of 2015.
