Bawany Air Products Limited’s financial results for the quarter ended September 30, 2011

Bawany Air Products Limited’s financial results for the quarter ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held at 3:00 p.m. on October 18, 2011 have approved the un-audited accounts for the quarter ended September 30, 2011.

Condensed Interim Profit and Loss Account (Unaudited) for the Three Months Ended September 31, 2011

 

September

September

2011

2010

Note

Rupees

Rupees

Sales-net 45,128,709  38,951,735
Cost of sales 7 (38,772,945) (32,293,468)
———- ———-
Gross profit 6,355,764 6,658,267
Profit from trading activities- gases 24,418
Other operating income 13,674
Unrealized gain on revaluation of financial assets 2,075
———-  ———-
6,395,931  6,658,267
Distribution cost (1,547,357) (1,204,582)
Administrative expenses (2,755,175) (2,971,725)
Finance cost (2,056,435) (1,856,687)
 ———-  ———-
Profit before taxation 36,964 625,273
Taxation
– current 8 (451,797) (389,517)
– deferred 65,520  –
 ———-  ———-
(Loss) /profit for the period (349,313)  235,756
Other comprehensive income
 ———- ———-
Total comprehensive income for the year  (349,313) 235,756
 ———- ———-
Earning per share basic and diluted  (0.05) 0.03

 

The annexed notes 1 to 10 form an integral part of these condensed interim financial statements.

Condensed Interim Balance Sheet as at September 31, 2011

 

Un-audited  Audited  Un-audited Audited
September 30,  June 30, September 30,  June 30,
2011 2011 2011  2011
Note Rupees Rupees Note Rupees Rupees
Equity and Liabilities Assets
Share Capital and Reserves Non Current Assets
Authorized capital Property, plant
15,000,000 ordinary shares of Rs.10 each 150,000,000 150,000,0000 and equipment 5 201,026,922
Issued, subscribed and  Long-term deposits 3,215,467 3,215,467
Paid-up capital 75,025,104 75,025,104
Un-appropriated profit 13,934,139 14,137,981
 ———–  ————
88,959,243 89,163,085 Deferred tax asset 6 2,631,917
Surplus on revaluation of property,
plant and equipment – net 4   20,164,599 20,310,071
Non Current Liabilities Current Assets
Stores and spares 1,278,418 1,196,125
Long-term financing 30,104,710 33,911,585
 Stock-in-trade  3,437,717 2,780,518
 Trade debts 10,158,802 9,081,798
Long-term deposits 32,976,729 32,826,665  Loans and advances 676,550 911,782
 Advance tax 2,762,276 1,277,511
Current Liabilities
Trade deposits 2,855,954  2,526,768
Trade and other payables 21,416,652 17,334,140 Other financial assets 86,882 84,807
Interest / mark-up accrued  4,387,074 4.402,125
Short term borrowings  10,982,320  7,580,046 Income tax refundable 437,121 437,121
Current portion of
long-term financing  19,818,064 20,728,086 Cash and bank balances 241,366 258,307
———– ————  ———-  ———-
56,604,110 50,044,397 21,935,086 18,554,737
 ———–  ———— ———- ———-
Total Equity and Liabilities 228,809,392  226,255,803 Total Assets 228,809,392  226,255,803

 

The annexed notes 1 to 10 form an integral part of these condensed interim financial statements.

For more information, contact:
Bawany Air Products Limited
18-C, 2nd Floor, Nadir House,
I.I. Chundrigar Road, Karachi – 74200,
Tel: (92-21) 32400440-3
Fax: (92-21) 32411986
Web: www.bawanyair.com

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