Invest and Finance Securities Limited’s financial results for the second quarter and half year ended December 31, 2011

Related Articles

Financial results of Faran Sugar Mills Limited for year ended September 30, 2016

December 29, 2016

Financial results of Sui Northern Gas Pipelines Limited for quarter ended September 30, 2016

December 28, 2016

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on January 16, 2012 at 03:45 p.m. at Registered Office, 12th Floor, Corporate Tower, Technocity Building, Hasrat Mohani Road, Off: I. I. Chundrigar Road, Karachi, recommended the following:

(i) Cash Dividend                                    Nil

And/ Or

(ii) Bonus Shares                                    Nil

And/ Or

(iii) Right Shares                                   Nil

And/ Or

(iv) Any Other Entitlement/Corporate Action          Nil

And/ Or

(v) Any Other Price-Sensitive Information           None

The financial results of the Company for the second quarter and half year ended December31, 2011 are attached.

The Board of Directors has fixed the number of Directors as 7 (seven) in accordance with the provisions of Section 178 (1) of the Companies Ordinance, 1984 for the forthcoming election of Directors. The date, time and place of Extraordinary General Meeting and book closure dates will be decided later in due course of time.

The Board after deliberation has deferred the approval of future business plan/strategy for the time being.

The Financial Results of the Company for the second quarter and half year ended December 31, 2011 are as follows:

 

	Half year Ended		Second year Ended
	December 31,	December 31,	December 31,	December 31,
	2011	2010	2011	2010
	Rupees		Rupees
Operating Revenues	31,352,202	28,599,375	18,346,214	18,509,774
Gain on sale of invests-net	178,750,930	10,646,874	169,750,021	10,152,913
	———–	———-	———–	———-
	210,103,132	39,246,249	188,096,235	28,662,687
Operating Expenses	(28,969,546)	(24,507,115)	(13,865,972)	(13,349,169)
	———–	———-	———–	———-
Operating Profit	181,133,586	14,739,134	174,230,236	15,313,518
Other Operating Income	404,162	3,217,253	39,548	1,131,903
Provisions for Workers’ Welfare fund	–	(4,352,362)	–	(4,352,362)
Financial Charges	(4,071,834)	(2,479,306)	(1,902,433)	(329,865)
(Loss)/ gain on revolution of
Investments carried at Fair value
through profit And loss account-net	(52,520,661)	27,711,729	35,788,025	26,869,644
	———–	———-	———–	———-
	(56,188,333)	24,097,314	(37,650,910)	23,319,320
	———–	———-	———–	———-
Profit before Taxation	124,945,253	38,836,448	136,579,353	38,632,838
Taxation	(1,825,473)	(1,753,251)	(1,134,939)	(1,706,220)
	———–	———-	———–	———-
Profit after Taxation	123,119,780	37,083,197	135,444,414	36,926,618
Other comprehensive Income	–	–	–	–
	———–	———-	———–	———-
Total Comprehensive
For the period	123,119,780	37,083,197	135,444,414	36,926,618
	———–	———-	———–	———-
Earnings per Share – Basic and diluted	2.05	0.62	2.26	0.61

 

For more information, contact:
Muhammad Awais
Director and Company Secretary
Invest and Finance Securities Limited
12th floor, Corporate Tower,
Technocity Building, Hasrat Mohani Road
Off: I. I. Chundrigar Road, Karachi, Pakistan
Tel: (+92 21) 32276932-35
Fax: (+92 21) 32276969
Web: www.investfinance.com.pak