Mirza Sugar Mills Limited ‘s financial results for the quarter year ended December 31, 2011

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Karachi: We have to inform you that Board of Directors of our Company in their Meeting held at 10.30 a.m. on Thursday, January 19, 2012 recommended the following:

 

(i) Interim Cash Dividend          Nil

(ii) Interim Bonus Shares          Nil

(iii) Right Shares                 Nil

 

The Quarterly Results of the Company are as follows:

 

	Quarter ended	Quarter Ended
	31-12-2011 (Rs.)	31-12-2010 (Rs.)
Sales – net	80,860,595	107,654,703
Cost of sales	(153,399,430)	(103,430,289)
	———–	———–
Gross Profit/ (loss)	(72,538,735)	4,224,414
Operating Expenses:
Administration and General	16,215,091	14,034,086
Selling and Distribution	27,059	66,598
	———–	———–
	(16,242,150)	(14,100,684)
	———–	———–
Operating Profit / (loss)	(88,780,885)	(9,876,270)
	———–	———–
Financial charges	(421,625)	(847,509)
Other Income / (Charges)	(5,796)	0
	———–	———–
	(427,421)	(847,509)
	———–	———–
Profit / (Loss) before taxation	(89,200,306)	(10,723,779)
Provision for taxation:
Current	(808,607)	(1,076,547)
	———–	———–
Net Profit / (Loss) after taxation	(90,016,913)	(11,800,326)
	———–	———–
Earnings/ (Loss) per share – basic	(6.38)	(0.84)

 

For more information, contact:
Tariq Mahmood
Company Secretary
Mirza Sugar Mills Limited
10th Floor, Block ‘B’ Building No. 1,
Lakson Square, Sarwar Shaheed Road,
Karachi.
PABX: 5680151
Fax: (92-21) 5680183