Faran Sugar Mills Limited’s financial results for the third quarter ended June 30, 2011

Faran Sugar Mills Limited’s financial results for the third quarter ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on 26 July 2011 at 3:30 P.M. at our registered office of the Company 2nd Floor Bank House No 1. Habib Square M.A. Jinnah Road, Karachi recommended the following:

 

(1) Cash Dividend NIL
(2) Bonus Issue NIL
(3) Right Issue NIL

 

The financial results of the Company are as follows:

Nine Months Ended

Quarter Ended

June 30-2011 June 30-2010 June 30-2011 June 30-2010

Rupees

Rupees

Sales – net 2,885,484,923 3,292,829,431 938,294,458 1,312,310,113
Cost of sales (2,611,395,487) (3,089,902,289) (855,748,086) (1,241,244,012)
————— ————— ————- —————
Gross profit 274,089,436 202,927,142 82,546,372 71,066,101
Operating expenses
Administrative expenses (43,093,196) (35,479,181) (14,747,365) (11,937,928)
Distribution cost (7,297,636) (3,891,984) (1,460,991) (174,608)
Other charges (13,498,893) (11,320,388) (1,398,397) (3,040,146)
Other income 25,308,072 19,731,624 7,055,827 1,074,346
————— ————— ————- —————
Operating profit 235,507,784 171,967,213 71,995,447 56,987,765
Share in profit of associate – net 41,045,039 16,679,945 11,677,372 8,169,892
————— ————— ————- —————
276,552,823 188,647,158 83,672,819 65,157,657
Finance cost (81,531,868) (46,213,917) (60,230,063) (24,401,063)
————— ————— ————- —————
Profit before taxation 195,020,955 142,433,241 23,442,756 40,756,594
Taxation (30,469,496) (42,030,472) (7,817,375) (9,459,964)
————— ————— ————- —————
Profit after taxation 164,551,459 100,402,769 15,625,381 31,296,630
————— ————— ————- —————
Earnings per share – basic and diluted 7.60 4.64 0.72 1.45

For more information, contact:
Muhammad Ayub
CFO and Company Secretary
Faran Sugar Mills Limited
3rd Floor, Bank House No.1,
Habib Square, M.A. Jinnah Road,
Karachi-74000
Pakistan
UAN: +9221 111-786-878
Fax: +9221 32421610

Leave a Reply