Nishat Power Limited’s financial results for the year ended June 30, 2011

Nishat Power Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of Nishat Power Limited (NPL) in their meeting held on September 05, 2011 (Monday), at 11:00 a.m. at Lahore, recommended the followings:-

(i) Cash Dividend                                  NIL

And/ Or

(ii) Bonus Share                                   NIL

And/ Or

(iii) Right Shares                                 NIL

And/ Or

(iv) Any Other Entitlement / Corporate Action      NIL

And/ Or

(v) Any Other Price-Sensitive Information          NIL

The Financial Results of the Company are as Under:-

The profit and loss account of the Company for the year ended June 30, 2011 are as follows:

 

2011 2010
Rupees Rupees
Sale 20,986,893,733 1,018,364,764
Cost of sales (16,110,394,375)  (795,520,877)
 ————– ————–
Gross profit 4,867,499,358 222,843,887
Administrative expenses (47,523,647) (17,203,547)
Other operating expenses (50,466,814) (5,451 809)
Other operating income 37,590,434 52,052,736
 ————– ————–
Profit from operations 4,807,099,331 252,241,267
Finance cost (2,914,276,577)  (180,041,242)
 ————– ————–
Profit before taxation 1,892,822,754  72,200,025
Taxation  (13,739,304) (25,023,320)
————– ————–
Profit after taxation  1,879,083,450 47,176,705
————– ————–
Earnings per share basic and diluted 5.307  0.135

 

 

Book Closure Notice for Attending the Annual General Meeting:-

The Share Transfer Books of the Company will remain closed for attending the Annual General Meeting from 24-10-2011 to 31-10-2011 (both days inclusive). Physical transfers/CDS transactions / IDs received in order at Share Registrar, Hameed Majeed Associates (Pvt) Ltd, HM House, 7-Bank Square, Lahore upto 1:00 pm. on 22-10-2011 will be considered in time for attending of meeting.

The Annual General Meeting of the Company will be held on. October 31, 2011 (Monday) at 2:30 P.M. at Nishat House, 53-A Lawrence Road, Lahore

The notice of’ Annual General   Meeting of the Shareholders is also enclosed for circulation.

Notice of Annual General Meeting

Notice is hereby given that Annual General Meeting of’ the members of Nishat Power Limited (the Company) will he held on October 31, 2011 (Monday) at 2:30 at 53-A Lawrence Road, Lahore to transact the Following business:

1. To confirm minutes of the last Meeting.

2. To receive and adopt the Audited Accounts of the Company for the year ended June 30, 2011 together with Directors’ and Auditors’ reports thereon.

3. To appoint External Auditors of the Company for the year 2011 – 2012 and fix their remuneration.

4. Any other matter with the permission of the chair.

Notes: –

1. The Share Transfer Books of the Company will remain closed from 24-10-2011 to 31-10- 2011 (both days inclusive). Physical transfers/CDS transactions/IDs. received in order at Share Registrar, Hameed Majeed Associates (Pvt) Ltd, HM House, 7- Bank Square, Lahore upto 1:00 p.m. on 22-10-2011 will he considered in time for attending of meeting.

2. A member eligible to attend and vote at this meeting may appoint another member as his/her proxy in attend and vote instead of him/her. Proxies in order to be effective must reach the Company’s Registered Office not later than 48 hours before the time for holding the meeting. Proxies of the Members through CDS shall be accompanied with attested copies of their CNIC. The shareholders through CDC arc requested to bring original CNIC. Account Number and Participant Account Number to produce at the time of attending the meeting.

3. Shareholders are requested to immediately notify the change of address, if any.

 

For more information, contact:
Nishat Power Limited
1.9. Aziz Avenue, Canal Bank,
Gulberg V, Lahore.
Tel: +92-42-3571090-86
Fax: 92-42-35717239
Email: nishat@nishatpower.com
Web: www.nishatpower.com

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