Dewan Farooque Spinning Mills Limited’s financial results for the first quarter ended September 30, 2012

Karachi, November 01, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on October 31, 2012 at 07:00 p.m. at Karachi, Pakistan, recommended the following:

(i) Cash Dividend Nil

And/ Or

(ii) Bonus Shares  Nil

And/ Or

(iii) Right Shares Nil

And/ Or

(iv) Any Other Entitlement/ Corporate Action  Nil

And/ Or

v) Any Other Price-Sensitive Information  Nil

The un-audited financial results of the Company for the First Quarter ended September 30, 2012, are as follows:

July-Sep 2012

July-Sep 2011

(Rupees)

Sales-Net

296,585,970

339,787,577

Cost of Sales

292,002,495

370,479,717

———–

———–

Gross Profit/ (Loss)

4,583,475

(30,692,140)

Operating Expenses
Administrative expenses

6,559,395

8,440,041

Selling and distribution expenses

4,181,197

8,137,427

———–

———–

10,740,592

16,577,468

———–

———–

Operating Loss

(6,157,117)

(47,269,608)

Other Income

-

610,674

———–

———–

(6,157,117)

(46,658,934)

Finance Cost

14,677,886

2,840,721

———–

———–

Loss before Taxation

(20,835,003)

(49,499,655)

Taxation
Current

1,496,390

3,635,097

Deferred

(5,249,128)

-

———–

———–

(3,752,738)

3,635,097

———–

———–

Loss after Taxation

(17,082,265)

(53,134,752)

———–

———–

Basic (loss)/ Earnings per Share (Rupees)

(0.17)

(0.54)

For more Information, contact:
Haroon Iqbal
Director
Dewan Farooque Spinning Mills Limited
7TH Floor, Block-A,
Finance and Trade Centre (FTC),
Shahrah-e-Faisal, Karachi, Pakistan
UAN: (92-21) 111-364-111
Fax: (92-21) 5630860,
Web: www.dewangroup.com.pk