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Thursday, September 24th, 2020

Sakrand Sugar Mills Limited’s financial results for the third quarter ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of the Company has approved the accounts for the third quarter ended June 30, 2011 on July 28, 2011 at 41-K, P.E.C.H.S., Karachi declaring no entitlement for the shareholders.

The financial results of the Company are as follows:

2010-2011

2009-2010

Quarter ended

Nine Months

Quarter ended

Nine Months

June 30, 2011

June 30, 2011

June 30, 2010

June 30, 2010

Rupees

Rupees

Rupees

Rupees

Sales-net 257,307,832 2,797,790,997 569,098,944 2,697,631,650
Cost of sales (271,428,563) (2,699,331,375) (574,165,945) (2,571,019,661)
———– ————- ———– ————-
Gross profit/(loss) (14,120,731) 98,459,622 (5,067,001) 126,611,989
Operating expenses
Administrative expenses (22,969,416) (70,582,484) (21,781,808) (65,399,444)
Distribution Cost (129,972) (2,456,116) (57,733) (1,843,597)
———– ————- ———– ————-
(23,099,388) (73,128,600) (21,839,541) (67,243,041)
Operating profit/(loss)
Financial cost (24,547,469) (62,038,329) (25,326,374) (59,405,655)
Other charges (90,133) (161,704) (281,133) (485,473)
Workers’ Profit Participation Fund
Income on long term investments 4,845,835
Other (loss) / gain (36,340) (52,319) 15,384 30,664
———– ————- ———– ————-
(24,673,932) (67,406,517) (23,584,243) (59,860,464)
———– ————- ———– ————-
Loss before taxation (61,894,051) (32,075,495) (50,490,785) (491,516)
Taxation
Current (2,573,111) (27,978,140) (2,845,572) (13,488,312)
Prior (40,363)
Deferred (1,954,423) 3,662,648
———– ————- ———– ————-
(2,573,111) (29,972,926) (2,845,572) (9,825,664)
———– ————- ———– ————-
Loss after taxation (64,467,162) (62,048,421) (53,336,357) (10,317,180)
———– ————- ———–  ————-
Loss per share – Basic (2.89) (2.78) (2.39) (0.46)

For more information, contact:
Mustafa Kanani
Company Secretary
Sakrand Sugar Mills Limited
41-K, P.E.C.H.S., Karachi-75400,
Pakistan.
UAN: +9221 111-48-48-48
Tel: +9221 34531642
Fax: +9221 34548450

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