Karachi: We have to inform you that the Board of Directors of the Company has approved the accounts for the third quarter ended June 30, 2011 on July 28, 2011 at 41-K, P.E.C.H.S., Karachi declaring no entitlement for the shareholders.
The financial results of the Company are as follows:
|
2010-2011 |
2009-2010 |
|||
|
Quarter ended |
Nine Months |
Quarter ended |
Nine Months |
|
|
June 30, 2011 |
June 30, 2011 |
June 30, 2010 |
June 30, 2010 |
|
|
Rupees |
Rupees |
Rupees |
Rupees |
|
| Sales-net | 257,307,832 | 2,797,790,997 | 569,098,944 | 2,697,631,650 |
| Cost of sales | (271,428,563) | (2,699,331,375) | (574,165,945) | (2,571,019,661) |
| ———– | ————- | ———– | ————- | |
| Gross profit/(loss) | (14,120,731) | 98,459,622 | (5,067,001) | 126,611,989 |
| Operating expenses | ||||
| Administrative expenses | (22,969,416) | (70,582,484) | (21,781,808) | (65,399,444) |
| Distribution Cost | (129,972) | (2,456,116) | (57,733) | (1,843,597) |
| ———– | ————- | ———– | ————- | |
| (23,099,388) | (73,128,600) | (21,839,541) | (67,243,041) | |
| Operating profit/(loss) | ||||
| Financial cost | (24,547,469) | (62,038,329) | (25,326,374) | (59,405,655) |
| Other charges | (90,133) | (161,704) | (281,133) | (485,473) |
| Workers’ Profit Participation Fund | – | – | – | – |
| Income on long term investments | – | 4,845,835 | – | – |
| Other (loss) / gain | (36,340) | (52,319) | 15,384 | 30,664 |
| ———– | ————- | ———– | ————- | |
| (24,673,932) | (67,406,517) | (23,584,243) | (59,860,464) | |
| ———– | ————- | ———– | ————- | |
| Loss before taxation | (61,894,051) | (32,075,495) | (50,490,785) | (491,516) |
| Taxation | ||||
| Current | (2,573,111) | (27,978,140) | (2,845,572) | (13,488,312) |
| Prior | – | (40,363) | – | – |
| Deferred | – | (1,954,423) | – | 3,662,648 |
| ———– | ————- | ———– | ————- | |
| (2,573,111) | (29,972,926) | (2,845,572) | (9,825,664) | |
| ———– | ————- | ———– | ————- | |
| Loss after taxation | (64,467,162) | (62,048,421) | (53,336,357) | (10,317,180) |
| ———– | ————- | ———– | ————- | |
| Loss per share – Basic | (2.89) | (2.78) | (2.39) | (0.46) |
For more information, contact:
Mustafa Kanani
Company Secretary
Sakrand Sugar Mills Limited
41-K, P.E.C.H.S., Karachi-75400,
Pakistan.
UAN: +9221 111-48-48-48
Tel: +9221 34531642
Fax: +9221 34548450