Mirza Sugar Mills Limited’s financial results for the quarter year ended June 30, 2011

Mirza Sugar Mills Limited’s financial results for the quarter year ended June 30, 2011

Karachi: We have to inform you that Board of Directors of our Company in their Meeting held at 10.30 a.m. on Thursday, July 21, 2011, recommended the following.

 

(i) Interim Cash Dividend Nil
(ii) Interim Bonus Shares Nil
(iii) Right Shares Nil

 

The Quarter Results of the Company are as follows.

Quarter Ended

Nine Month Ended

June 30, 2011 (Rs.) June 30, 2011 (Rs. June 30, 2011 (Rs.) June 30, 2011 (Rs.)
Sales – net 187,837,009 169,560,917 1,295,887,818 1,203,251,954
Less: Cost of sales (193,444,851) (161,028,912) (1,181,923,357) (971,558,738)
———– ———– ————- ————-
Gross Profit (5,607,842) 8,532,005 113,964,461 231,693,216
Operating Expenses:
Administrative Expenses 11,539,896 9,277,846 42,635,282 33,236,721
Distribution costs 67,733 70,609 1,189,434 922,097
———– ———– ————- ————-
(11,607,629) (9,348,455) (43,824,716) (34,158,818)
Operating Profit / (loss) (17,215,471) (816,450) 70,139,745 197,534,398
Other Charges
Finance costs (983,274) (1,167,756) (5,684,060) (9,016,393)
Other (charges) / Income 1,255,714 455,057 (4,447,442) (12,673,005)
———– ———– ————- ————-
272,440 (712,699) (10,131,502) (21,689,398)
Net profit /(loss) before taxation (16,943,031) (1,529,149) 60,008,243 175,845,000
Taxation- Current (1,878,370) (847,805) (12,958,878) (6,016,260)
———– ———– ————- ————-
Net profit/ (loss) after taxation (18,821,401) (2,376,954) 47,049,365 169,828,740
———– ———– ————- ————-
Earnings per share – basic and diluted (1.33) (0.17) 3.34 12.04

 

For more information, contact:
Tariq Mahmood
Company Secretary
Mirza Sugar Mills Limited
10th Floor, Block ‘B’ Building No. 1,
Lakson Square,
Sarwar Shaheed Road,
Karachi
PABX: 5680151
Fax: (92-21) 5680183

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