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Karachi, Haseeb Waqas Sugar Mills Limited has released its financial results for the quarter ended June 30, 2023. The company’s Board of Directors, in a meeting held on July 26, 2023, made several recommendations including an interim cash dividend and bonus shares. However, the company reported a loss of Rs. 68.07 million for the quarter.
Key Points:
The company’s sales for the quarter stood at Rs. 64.46 million, resulting in a gross loss of Rs. 64.46 million.
Operating expenses, including administrative and general costs, amounted to Rs. 17.35 million.
Other operating income of Rs. 137.19 million partially offset the loss from operations, resulting in a total loss of Rs. 81.81 million.
The company faced finance costs of Rs. 2.74 million, further impacting its financial performance.
After taxation, Haseeb Waqas Sugar Mills reported a loss of Rs. 68.07 million for the quarter, with a loss per share of Rs. 2.10.
Additional Entitlements:
The Board recommended an Interim Cash Dividend of Rs. NIL per share, in addition to the Interim Dividend(s) previously paid at Rs. NIL per share.
Interim Bonus shares were proposed to be issued in proportion to NIL share(s) for every NIL share(s) held.
The Board also recommended issuing NIL% Right Shares at par/at a discount/premium of Rs. NIL per share in proportion to NIL share(s) for every NIL share(s).
The Share Transfer Books of the Company will be closed from – NIA – to – NIA – (both days inclusive) for the purpose of the above entitlements.
Please note that the financial results mentioned above are unaudited.
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