The after-tax profit of Rafhan Maize Products Company Limited reduced to Rs 450.493 million in the quarter ended March 31, 2012 against Rs 522.265 million in the corresponding period of 2011. The company's earning per share stood at Rs 48.77 in the period under review against Rs 56.54 in the same period last year.
The company's board of directors, in a meeting held on Friday, recommended an interim cash dividend for the quarter ended March 31, 2012 at Rs 25 per share ie 250 percent. According to financial results sent to the Karachi Stock Exchange, the company's net sales declined to Rs 4.567 billion in this quarter against Rs 4.734 billion in the same quarter last year. The cost of sales stood at Rs 3.698 billion against Rs 3.768 billion. The company's profit before taxation reduced to Rs 695.352 million in this quarter against Rs 817.021 million in the same quarter last year.
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