Mirza Sugar Mills Limited’s financial results for the quarter ended June 30, 2013

Karachi, July 24, 2013 (PPI-OT): We have to inform you that Board of Directors of our Company in their Meeting held at 10.30 a.m. on Wednesday, July 24, 2013, 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,          June 30,            June 30,             June 30,
                                              2013 (Rs.)        2012 (Rs.)          2013 (Rs.)           2012 (Rs.)

Sales-net                                    17,517,851         56,900,678         191,304,488          687,341,500
Les: Cost of sales                          (31,412,031)       (65,545,709)       (256,808,602)        (721,234,091)
                                             ----------        -----------         -----------          -----------
Gross Profit/ (Loss)                        (13,894,180)        (8,645,031)        (65,504,114)         (33,892,591)
Operating Expenses:
Administrative expenses                       8,536,448         10,957,281          37,046,897           46,050,047
Distribution costs                               19,226             22,969             441,463              905,568
                                             ----------        -----------         -----------          -----------
                                             (8,555,674)       (10,980,250)        (37,488,360)         (46,955,615)
                                             ----------        -----------         -----------          -----------
Operating Profit/ (loss)                    (22,449,854)       (19,625,281)       (102,992,474)         (80,848,206)
Other Charges:
Finance costs                                   (16,759)          (141,848)           (965,168)          (2,371,759)
Other (charges)/ income                             -          285,826,183           2,107,933          285,833,687
                                             ----------        -----------         -----------          -----------
                                                (16,759)       285,684,335           1,142,765          283,461,928
                                             ----------        -----------         -----------          -----------
Net profit/ (loss) before taxation          (22,466,613)       266,059,054        (101,849,709)         202,613,722
Taxation - Current                                  -            7,643,801                 -             (3,436,708)
         - Deferred                                 -                  -              (173,289)                 -
                                             ----------        -----------         -----------          -----------
Net profit/ (loss) after taxation           (22,466,613)       273,702,855        (102,022,998)         199,177,014
                                             ----------        -----------         -----------          -----------
Earnings/ (loss) per share-basic                   (1.59)             19.41               (7.24)               14.13
                                             ----------        -----------         -----------          -----------

We will be sending you 300 copies of printed Quarterly Accounts for distribution amongst the members of the Exchange in due course of time.

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

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