Ansari Sugar Mills Limited Annual Financial Performance Review

Karachi, Ansari Sugar Mills Limited reported a significant increase in net sales for the fiscal year ending September 30, 2022, as released in their latest financial statements. According to information available from the Pakistan Stock Exchange (PSX), the company’s net sales rose to 967,206,351 rupees from 405,166,580 rupees in the previous year.

The cost of sales also increased from 275,236,383 rupees in 2021 to 717,472,357 rupees in 2022, leading to a gross profit of 249,733,994 rupees, up from 129,930,197 rupees. However, operating expenses were slightly reduced, with selling and distribution expenses falling to 1,403,550 rupees from 4,066,270 rupees, and administrative expenses slightly increased to 56,492,550 rupees.

The operating profit for the year stood at 191,837,794 rupees, a substantial increase from the 72,689,151 rupees recorded in the previous year. Despite these gains, the company faced a high finance cost of 591,846,168 rupees, up from 421,199,755 rupees, resulting in a loss before taxation of 400,008,374 rupees. After accounting for taxation benefits of 108,089,205 rupees, the loss after taxation was 291,919,169 rupees, marking an improvement over the previous year’s loss of 256,560,976 rupees.

The loss per share also reflected this trend, with a slight improvement from a loss of 4.57 rupees per share in 2021 to 5.201 rupees per share in 2022.