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Karachi, Abdullah Shah Ghazi Sugar Mills Limited held a board meeting on July 25, 2023, where the following recommendations were made:
(i) Cash Dividend: Nil
(ii) Bonus Shares: Nil
(iii) Right Shares: Nil
(iv) Any Other Entitlement/Corporate Action: Nil
(v) Any Other Price-Sensitive Information: Not Applicable
The financial results of the company for the 9 months ended June 2023 showed significant losses. Sales amounted to Rs. 382,818,404, while the cost of sales was Rs. 778,273,988, resulting in a gross loss of Rs. 395,455,584. Operating expenses, including administrative and distribution expenses, stood at Rs. 27,826,430. Consequently, the operating profit amounted to a negative Rs. 423,282,014.
Finance costs of Rs. 80,460,828 were incurred, leading to a profit before taxation of negative Rs. 411,144,074. After considering provisions for taxation, the profit after taxation for the 9 months period was recorded as a loss of Rs. 277,136,249.
The earning per share for the period, both basic and diluted, showed a negative value of (Rs. 3.50).
The post Abdullah Shah Ghazi Sugar Mills Reports Losses in Financial Results for the 9 Months Ended June 2023 appeared first on Pakistan Company News.