Mirza Sugar Mills Limited’s financial results for the quarter year ended June 30, 2011

Karachi: We have to inform you that Board of Directors of our Company in their Meeting held at 10.30 a.m. on Thursday, July 21, 2011, recommended the following.

 

(i)Interim Cash DividendNil
(ii)Interim Bonus SharesNil
(iii)Right SharesNil

 

The Quarter Results of the Company are as follows.

Quarter Ended

Nine Month Ended

June 30, 2011 (Rs.)June 30, 2011 (Rs.June 30, 2011 (Rs.)June 30, 2011 (Rs.)
Sales – net187,837,009169,560,9171,295,887,8181,203,251,954
Less: Cost of sales(193,444,851)(161,028,912)(1,181,923,357)(971,558,738)
———–———–————-————-
Gross Profit(5,607,842)8,532,005113,964,461231,693,216
Operating Expenses:
Administrative Expenses11,539,8969,277,84642,635,28233,236,721
Distribution costs67,73370,6091,189,434922,097
———–———–————-————-
(11,607,629)(9,348,455)(43,824,716)(34,158,818)
Operating Profit / (loss)(17,215,471)(816,450)70,139,745197,534,398
Other Charges
Finance costs(983,274)(1,167,756)(5,684,060)(9,016,393)
Other (charges) / Income1,255,714455,057(4,447,442)(12,673,005)
———–———–————-————-
272,440(712,699)(10,131,502)(21,689,398)
Net profit /(loss) before taxation(16,943,031)(1,529,149)60,008,243175,845,000
Taxation- Current(1,878,370)(847,805)(12,958,878)(6,016,260)
———–———–————-————-
Net profit/ (loss) after taxation(18,821,401)(2,376,954)47,049,365169,828,740
———–———–————-————-
Earnings per share – basic and diluted(1.33)(0.17)3.3412.04

 

For more information, contact:
Tariq Mahmood
Company Secretary
Mirza Sugar Mills Limited
10th Floor, Block ‘B’ Building No. 1,
Lakson Square,
Sarwar Shaheed Road,
Karachi
PABX: 5680151
Fax: (92-21) 5680183