Mirza Sugar Mills Limited’s financial results for the quarter ended June 30, 2012

Karachi, July 19, 2012 (PPI-OT): We have to inform you that Board of Directors of our Company in their Meeting held at 10.00 a.m. on Thursday, July 19, 2012, recommended the following:

(i) Interim Cash Dividend           Nil

(ii) Interim Bonus Shares           Nil

(iii) Right Shares                  Nil

The Quarterly Results of the Company are as follows:

Quarter Ended

Nine Month Ended

June 30, 2012 (Rs.)

June 30, 2011 (Rs.)

June 30, 2012 (Rs.)

June 30, 2011 (Rs.)

Sales -net

56,900,678

187,837,009

687,341,500

1,295,887,818

Less: Cost of sales

(95,545,709)

(193,444,851)

(721,234,091)

(1,181,923,357)

———–

———–

———–

————-

Gross Profit / (Loss)

(8,645,031)

(5,607,842)

(33,892,591)

113,964,461

Operating Expenses:
Administrative expenses

10,957,281

11,539,896

46,050,047

42,635,281

Distribution costs

22,969

67,733

905,668

1,189,434

———–

———–

———–

————-

(10,980,251)

(11,607,629)

(46,955,616)

(43,824,715)

———–

———–

———–

————-

Operating Profit/ (loss)

(19,625,281)

(17,215,471)

(80,848,206)

70,139,746

Other Charges:
Finance costs

(141,848)

(983,274)

(2,371,759)

(5,684,060)

Other (charges) / Income

285,826,183

1,255,714

285,833,687

(4,447,442)

———–

———–

———–

————-

285,684,335

272,440

283,461,928

(10,131,502)

———–

———–

———–

————-

Net profit/ (loss) before taxation

266,059,053

(16,943,031)

202,613,721

60,008,244

Taxation – Current

7,643,801

(1,878,370)

(3,436,708)

(12,958,878)

———–

———–

———–

————-

Net profit/ (toss) after taxation

273,702,854

(18,821,401)

199,177,014

47,049,366

———–

———–

———–

————-

Earning/ (loss) per share – basic

19.41

(1.33)

14.13

3.34

———–

———–

———–

————-

Earning/ (loss) per share excluding
the Income recognised as a result
of reversal of deffered liabilities

(0.86)

(1.33)

(6.14)

3.34

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