Financial Results for the Third Quarter Ended 30th June 2013 announcement by Shahmurad Sugar Mills Limited : AsiaNet-Pakistan

Financial Results for the Third Quarter Ended 30th June 2013 announcement by Shahmurad Sugar Mills Limited

July 26, 2013 | Financial Results | Share:

Karachi, July 26, 2013 (PPI-OT): We have to inform you that Board of Directors of our Company in their meeting held at 11.30 a.m. on Friday, 26th July 2013recommended the following:

i) Cash Dividend:

Cash Dividend for the Third Quarter ended 30th June 2013 @ Re. Nil per share. Interim Dividend has already been paid at Rs. Nil per share i.e. Nil %.

ii) Bonus Issue:

It has also been recommended by the Board of Directors to issue Bonus Shares in the proportion of Nil shares for every Nil shares held i.e. Nil %. The Bonus Shares will be entitled/ not entitled for the Right Shares.

iii) Right Shares:

The Board has also recommended to issue Nil % Right Shares at par/ at a premium of Rs. Nil per share in proportion of Nil shares for every Nil shares.

The Profit and Loss Accounts for the period ended 30th June 2013 is annexed herewith.

Condensed Interim Profit and Loss Account (Un-Audited) for the Nine Months Period Ended 30TH June-2013

                                              For the Nine Months              For the Nine Months
                                               October to June                   April to June
                                            2013              2012            2013            2012
                                                              (Rupees in thousands)

Sales                                     4,482,789        4,436,699       1,682,868        1,711,788
Cost of sales                            (4,003,478)      (3,858,741)     (1,523,621)      (1,576,724)
                                          ---------        ---------       ---------        ---------
Gross profit                                479,311          577,958         159,247          135,064
Distribution expenses                      (121,111)         (14,627)        (34,891)         (28,917)
Administrative expenses                     (97,550)         (89,490)        (30,175)         (30,129)
Other Operating Charges                      (4,482)         (14,103)           (352)           1,250
                                          ---------        ---------       ---------        ---------
                                           (223,143)        (178,220)        (65,418)         (57,796)
                                          ---------        ---------       ---------        ---------
Operating Profit                            256,168          399,738          93,829           77,268
Other Operating Income                       14,882           15,596           4,340            8,965
                                          ---------        ---------       ---------        ---------
                                            271,050          415,334          98,169           86,233
Finance Cost                               (245,015)        (260,598)        (94,380)        (105,315)
                                          ---------        ---------       ---------        ---------
Profit/ (Loss) before taxation               26,035          154,736           3,789          (19,082)
Taxation                                     11,230          (47,262)         (2,930)          25,060
                                          ---------        ---------       ---------        ---------
Profit/(Loss) for the period                 37,265          107,474             859            5,978
                                          ---------        ---------       ---------        ---------
Earnings per share-Basic and
diluted-Rupees                                 1.76             5.09            0.04             0.28

For more information, contact:
M. Yasin Mughal
Company Secretary
Shahmurad Sugar Mills Limited
96-A, Sindh Muslim Housing Society,
Karachi-74400, Pakistan.
Tel: 34550161-63, 34550030-31,
Fax: (92-21) 34556675
E-Mail: alnoor@dslplus.net.pk

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Category: Financial Results