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Sunday, September 27th, 2020

Haseeb Waqas Sugar Mills Limited’s financial results for the 3rd quarter ended June 30, 2011

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Karachi: This is to inform you that the Board of Directors’ Meeting of the Company held at 04:00 p.m. on Saturday, July 30, 2011, has considered and approved the financial results of the Company for the third quarter alongwith consolidated financial results for the nine months period ended June 30, 2011.

Approved Financial results of the company for the period under review are being provided through “Annexure A” enclosed herewith.

Moreover, during the period under review, the Board has not recommended any entitlement.

Condensed Interim Profit and Loss Account (Un-audited)

For the 3rd Quarter and Nine Months ended June 30, 2011

 

Nine months ended

Quarter ended

June 30, 2011

June 30, 2010

June 30, 2011

June 30, 2010

Note

Rupees

Rupees

Sales – Net 13 2,587,825,684 1,351,185,822 59,750,588 330,916,342
Cost of goods sold 14 (2,538,349,776) (1,347,602,007) (84,598,079) (333,589,156)
————- ————- ———- ———–
Gross proflt/(Loss) 49,475,908 3,583,815 (24,847,491) (2,672,814)
Operating expenses
Administrative and general 22,055,873 24,393,148 6,625,428 7,766,188
————- ————- ———- ———–
27,420,035 (20,809,333) (31,472,920) (10,439,002)
Other operating income 38,320,804 5,845,149 36,696,275 5,631,688
————- ————- ———- ———–
Profit/(Loss) from operation 65,740,839 (14,964,184) 5,223,356 (4,807,314)
Finance cost 120,054,537 88,206,766 45,406,707 40,359,991
————- ————- ———- ———–
(Loss) before taxation (54,313,698) (103,170,950) (40,183,351) (45,167,305)
————- ————- ———- ———–
Taxation
Current (25,878,257) (6,885,539) (597,506) (1,520,975)
Deferred (11,516,094) 30,939,948 (34,209,754) 1,978,853
————- ————- ———- ———–
(37,394,351) 24,054,409 (34,807,260) 457,878
————- ————- ———- ———–
(Loss) after taxation (91,708,049) (79,116,541) (74,990,611) (44,709,427)
————- ————- ———- ———-
Earning per share – basic (2.83) (2.44) (2.31) (1.38)

 

The annexed notes form an integral part of these condensed interim financial information.

Presently the Chief Executive of the Company is out of the country due to the reason these financial statements have been signed by two directors of the Company under Section 241(2) of the Companies Ordinance, 1984.

For more information, contact:
Ansar Ahmed
Company Secretary
Haseeb Waqas Sugar Mills Limited
6-F, Model Town, Lahore Pakistan
Tel: +9242 35917321-23
Fax: +9242 35917317
Email: hwgc@hwgc.com.pk

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