Agritech Limited’s financial results for the 1st quarter ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Monday October31, 2011 at 3:30 P.M at the Registered Office of the Company Aiwan-i-Science Off Shahrah-e-Roomi, Lahore recommend the following:

(i) Cash Dividend        Nil

(ii) Bonus Shares        Nil

(iii) Right Shares       Nil

The Financial Results of the Company are as follows:

 

Agritech Limited Agritech Limited
(Stand Alone) (Consolidated)
30-Sep-11  30-Sep-10 30-Sep-11 30-Sep-10
Rupees Rupees Rupees Rupees
Sales – net 1,194,548,060 1,012,556,096 1,801,037,997 1,342,602,888
Cost of sales  (704,418,462)  (593,514,981) (1,097,286,163)  (907,225,656)
 ————-  ————-  ————- ————-
Gross Profit  490,129,598  419,041,115 703,751,834 435,377,232
Selling and distribution expenses (104,610,705) (46,871,427)  (118,021,825) (48,218,751)
Administrative and general expenses  (68,764,069) (48,638,552)  (72,687,963) (58,566,633)
Net other income/ (expense)  29,350,866 24,806,247  29,734,571 24,902,254
 ————- ————-  ————- ————-
Operating profit  346,099,690  348,337,383  542,776,617  353,493,902
Finance cost   (443,251,586)  (436,054,918)  (421,008,037)  (436,802,291)
  ————-  ————- ————- ————-
Loss before taxation   (97,151,896)  (87,717,535) 121,767,980 (83,308,389)
Taxation (6,702,188) 358,249,134  (12,767,087) 355,184,114
————- ————- ————- ————-
Loss/Profit after taxation (103,854,084)  270,531,599 109,000,893 271,875,725
 ————- ————-  ————-  ————-
Earnings per share – Basic and diluted  (0.26) 0.69 0.28  0.69

 

Comparative figures have been rearranged and reclassified where necessary, for the purpose of comparison.

For more information, contact:
Agritech Limited
Ismali Aiwan-e-Science Building,
Main Ferozpur Road,
Lahore,
Pakistan.
Tel: (92) (42) 111-786-645
Fax: (92) (42) 35751841

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