Baba Farid Sugar Mills Limited’s Financial Results for the Second Quarter Ended March 31, 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on May 27, 2011 at 11:00 a.m. at T-09, 3rd Floor, Hafeez Center, Main

Boulevard, Gulberg-III, and Lahore has approved the following financial results for the Half Year ended March 31, 2011 for onward dissemination to the members of the Exchange. The Dividend for the Quarter under review is regretfully passed over.

 RupeesRupees
For the Half YearFor the Quarter
March 31March 31March 31March 31
2011201020112010
Sales118,004,098657,593,18159,953,378513,587,325
Cost of Sales110,853,895779,186,41154,111,674619,566,513
 ————————-————————-
7,150,203(121,593,230)5,841,704(105,979,188)
Operating Expenses    
Distribution Costs2,203,6341,422,5251,946,7061,178,003
Administrative16,611,91328,414,7129,039,95116,717,991
Other Operating Expenses-302,990-224,490
 ————————-————————-
18,815,54730,140,22710,986,65718,120,484
Operating Loss(11,665,344)(151,733,457)(5,144,953)(124,099,672)
Finance Cost86,489,38615,965,39448,976,1826,019,146
 ————————-————————-
(98,154,730)(167,698,851)(54,123,135)(132,118,818)
Other Operating Income10,56531,32410,56419,354
 ————————-————————-
(Loss) / Profit Before Taxation(98,144,165)(167,667,527)(54,112,570)(132,099,464)
Taxation    
Deferred(20,543,759)6,362,719(20,543,759)3,181,360
For the Period(1,159,229)(3,487,121)(578,722)(2,758,586)
 ————————-————————-
(21,702,988)2,875,598(21,122,481)428,774
————————-————————-
(Loss) / Profit after Taxation(119,847,153)(164,791,929)(75,235,051)(131,676,690)
 ————————-————————-
(Loss) / Earning per Share-Basic

And Diluted Rs.

(12.68)(17.44)(7.96)(13.93)
 ————————-————————-

For more information, contact:

Muhammad Ibrahim

Company Secretary

Baba Farid Sugar Mills Limited

1st Floor, Panorama Centre # 2,

Raja Ghazanfar Ali Khan Road,

Saddar, Karachi.

UAN: +9221 111-133-280

Tel: +9221 35682178

Email: fecto@fecto.com