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

Karachi, May 27, 2013 (PPI-OT): We would like to inform you that the Board of Directors in the Meeting held on Monday 27 May, 2013 at 10:30 a.m. have approved the following financial results for the Half Year ended 31 March, 2013:


                                                   For the 2nd Quarter              Cumulative
                                                  Jan-Mar.      Jan-Mar.      Oct-Mar.      Oct-Mar.
                                                   2013           2012          2013          2012
                                                                Rupees in thousand

Turnover-local                                   2,061,303      2,166,393     2,720,688     5,185,579
- export                                           615,355              0       948,861             0
                                                 ---------      ---------     ---------     ---------
                                                 2,676,658      2,166,393     3,669,549     5,185,579
Less: Sales Tax                                    145,405        146,873       190,837       371,590
                                                 ---------      ---------     ---------     ---------
                                                 2,531,253      2,019,520     3,478,712     4,813,989
Cost of Sales                                    2,414,646      1,778,758     3,187,166     4,641,029
                                                 ---------      ---------     ---------     ---------
Gross Profit                                       116,607        242,762       291,546       172,960
Distribution Cost                                   22,100          6,133        33,836        12,619
Administrative Expenses                             47,111         40,362        38,228        67,265
Other Operating Expenses                            (4,707)           217         1,712           243
Other Operating Income                             (45,742)       (28,113)      (51,711)      (31,625)
                                                 ---------      ---------     ---------     ---------
                                                    18,762         18,599        72,065        48,502
                                                 ---------      ---------     ---------     ---------
Profit from Operations                              97,845        224,163       219,481       124,458
Finance Cost                                       108,037         50,866       184,718       141,034
                                                 ---------      ---------     ---------     ---------
(Loss)/ Profit before Taxation                     (10,192)       173,297        34,763       (16,576)
Taxation
Current                                             18,346         48,847        24,806        48,847
Deferred                                           (11,448)         7,283       (22,897)      (25,441)
                                                 ---------      ---------     ---------     ---------
                                                     6,898         56,130         1,909        23,406
                                                 ---------      ---------     ---------     ---------
(Loss)/ Profit after Taxation                      (17,090)       117,167        32,854       (39,982)
Other Comprehensive Income                               0              0             0             0
                                                 ---------      ---------     ---------     ---------
Total Comprehensive (loss)/ Income                 (17,090)       117,167        32,854       (39,982)
                                                 ---------      ---------     ---------     ---------
                                                                          Rupees
(Loss)/ Earnings per Share                           (0.60)          4.08          1.15         (1.39)
                                                 ---------      ---------     ---------     ---------

We will be sending you 200 Copies of printed Half Yearly Financial Statements for distribution amongst the members of the Exchange in due course of time.

For more information, contact:
Mujahid Bashir
Company Secretary
Chashma Sugar Mills Limited
King’s Arcade, 20-A,
Markaz F-7, Post Box No.1529,
Islamabad.
Tel: 051-2650805-7
Fax: 051-2651285-6