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Karachi, April 30, 2013 (PPI-OT): It is to inform you that the Board of Directors of Olympia Spinning and Weaving Mills Limited (OLSM) in their meeting held on today, April 30, 2013 at Head Office, B-3 Farzana Building, 1st Floor, Block 7and 8, Shaheed-e-Millat Road, Karachi, have approved the Nine Months accounts of the Company for the 3rd Quarter ended March 31, 2013.
Cash Dividend: Nil
Bonus Shares: Nil
Right Shares: Nil
Financial results for the 3rd Quarter ended March 31, 2013 are as under:
Nine Months Ended Quarter Ended
March 31, March 31, March 31, March 31,
2013 2012 2013 2012
Rupees Rupees Rupees Rupees
Sales 1,850,809,015 1,611,574,412 595,819,539 629,511,530
Cost of sales (1,738,020,678) (1,449,036,773) (544,578,124) (534,665,423)
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Gross profit 112,788,337 162,537,639 51,241,415 94,846,107
Distribution Cost (24,837,603) (14,192,493) (7,254,180) (5,380,630)
Administrative expenses (27,917,762) (41,120,389) (7,694,629) (9,170,488)
Other operating income 12,351,038 3,220,541 4,429,355 2,019,923
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(40,404,320) (52,092,342) (10,519,454) (12,531,195)
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Operating profit 72,384,009 110,445,297 40,721,961 82,314,911
Finance cost (115,195,176) (153,970,464) (33,789,236) (67,754,154)
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(Loss)/ Profit before taxation (42,811,167) (43,525,167) 6,932,725 14,560,757
Taxation:
Current (18,508,090) (16,115,744) (5,958,195) (6,295,115)
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- (Loss)/ profit after taxation (61,319,257) (59,640,911) 974,530 8,265,642
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Earnings per share-Basic and diluted (Rupees) (5.11) (4.97) 0.08 0.69
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We will be sending you 300 copies of printed accounts for the 3rd Quarter ended March 31, 2013 for distribution amongst members of the Exchange in due course of time.
For more information, contact:
Muhammad Anwar Saigal
Company Secretary
Olympia Spinning and Weaving Mills Limited
E-3, Farzana Building, 1st Floor, Block-7 and 8,
Shaheed-e-Millat Road, Karachi-76350, Pakistan.
Phones (PABX’s): 34536235-34522657-34525720-34541690
Fax: (021) 34546263,
Email: info@olympiaspinning.com