Ansari Sugar Mills Limited’s financial results for the half year ended 31 March 2013

Karachi, June 03, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on Friday May 31st, 2013 at 3:00 pm recommended “NO ANNOUNCEMENT FOR ANY ENTITLEMETN”.

The financial results of the Company are as follows:


                                                              Quarter ended                     Half year ended
                                                       31 March         31 March         31 March            31 March
                                                         2013             2012             2013                2012
                                                        Rupees           Rupees           Rupees              Rupees

Sales-net                                            763,220,758      374,935,077      1,627,784,647       638,393,017
Cost of sales                                       (775,103,824)    (437,683,010)    (1,719,235,922)     (664,995,913)
                                                     -----------     ------------      -------------       -----------
Gross loss                                           (11,883,066)     (62,747,933)       (91,451,275)      (26,602,866)
Distribution cost                                     (5,502,532)      (3,839,450)       (23,818,011)       (4,081,899)
Administrative expenses                              (37,118,089)     (20,206,278)      (611,077,612)      (35,911,158)
                                                     -----------     ------------      -------------       -----------
                                                     (42,620,621)     (24,045,728)       (83,895,623)      (39,993,057)
                                                     -----------     ------------      -------------       -----------
Operating loss                                       (54,503,687)     (86,793,661)      (175,346,898)      (66,595,923)
Other Operating income                                24,294,828       13,497,697         27,464,982        18,324,204
                                                     -----------     ------------      -------------       -----------
                                                     (30,208,859)     (73,295,964)      (147,881,916)      (48,271,719)
Finance cost                                         (82,466,587)     (86,984,541)      (168,351,336)     (168,627,317)
                                                     -----------     ------------      -------------       -----------
Loss before taxation                                (112,675,446)    (160,280,505)      (316,197,252)     (216,899,036)
Taxation
- Current                                             (7,800,158)      (3,749,351)        (7,800,158)       (7,961,170)
- Deferred                                           204,096,125              -          204,096,125               -
                                                     -----------     ------------      -------------       -----------
                                                     196,295,521       (3,749,351)       196,295,967        (7,961,170)
                                                     -----------     ------------      -------------       -----------
Profit/ (Loss) after taxation                         83,620,521     (164,029,856)      (119,901,285)     (224,860,706)
                                                     -----------     ------------      -------------       -----------
Earning / (Loss) per share-Basic and Diluted                3.43            (6.72)             (4.91)            (9.21)
                                                     -----------     ------------      -------------       -----------

We will be sending you 300 copies of printed Accounts for distribution amongst the member of the Exchange.

For more information, contact:
Company Secretary
Ansari Sugar Mills Limited
H.O. 1st Floor, Block-2,
Hockey Club of Pakistan Stadium,
Karachi – 75350, Pakistan
UAN: 92-21 111-666-447,
Ph: 92-21 35855131-4, 35657781-6
Fax: 92-21 35680633