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Monday, September 24th, 2018

Faran Sugar Mills Limited’s financial result for the third quarter ended June 30, 2013

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Karachi, July 31, 2013 (PPI-OT): Ws have to inform you that the Board of Directors of our Company in their meeting held on 30th July, 2013 at 2:30 P.M. at our registered office of the Company, 2nd Floor Bank House No. 1, Habib Square, M.A. Jinnah Road, Karachi recommended the following.

(i) Cash Dividend Nil
(ii) Bonus Issue Nil
(iii) Right Issue Nil

The financial results of the Company are as follows:

                                                      Nine Months Ended                           Quarter Ended
                                             June 30-2013          June 30-2012        June 30-2013          June 30-2012
                                                            Rupees                                    Rupees

Sales-net                                   3,702,750,111         3,269,073,778        1,702,557,364          952,266,460
Cost of sales                              (3,391,512,188)       (2,931,608,068)      (1,540,494,045)        (990,694,887)
                                            -------------         -------------        -------------          -----------
Gross profit                                  311,337,923           337,465,712          162,063,319          (38,428,427)
Operating expenses
Administrative expenses                       (54,899,700)          (49,299,472)         (19,621,604)         (18,309,221)
Selling and Distribution cost                 (63,902,467)          (10,548,209)         (30,902,186)          (5,569,408)
Other charges                                 (14,023,579)          (20,502,355)          (7,282,704)           3,369,845
Other income                                   32,180,504            31,567,182            4,874,134            5,351,541
                                            -------------         -------------        -------------          -----------
Operating profit/ (loss)                      210,692,681           286,882,858          109,130,959          (53,585,670)
Share in profit of associate-net              100,039,000            96,211,000           10,469,661           62,744,333
                                            -------------         -------------        -------------          -----------
                                              310,631,681           384,893,858          119,600,626            9,158,663
Finance cost                                  (78,531,734)          (40,979,362)         (38,195,396)         (19,205,970)
                                            -------------         -------------        -------------          -----------
Profit/ (loss) before taxation                232,099,947           343,914,496           81,405,230          (10,047,307)
Taxation                                      (41,637,526)          (85,708,310)         (30,696,222)          21,953,614
                                            -------------         -------------        -------------          -----------
Profit after taxation                         190,462,421           258,206,186           50,709,008           11,906,307
                                            -------------         -------------        -------------          -----------
                                                            Restated                                  Restated
Earnings per share-basic and diluted                 8.00                 10.84                 2.13                 0.50
                                            -------------         -------------        -------------          -----------

We will send you 300 copies of printed accounts for distribution among the members of the Exchange in due course of time.

For more information, contact:
Muhammad Ayub
CFO and Company Secretary
Faran Sugar Mills Limited
3rd Floor, Bank House No. 1,
Habib Square M.A. Jinnah Road,
Karachi – 74000, Pakistan
UAN: 111-786-878
Fax: (92-21) 3242-1010
URL: www.faran.com.pk, www.bawany.com.pk
E-mail: info@faran.com.pk

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