Pak Electron Limited’s financial results for the 3rd quarter ended September 30, 2011

Karachi: The Board of Directors of Pak Electron Limited (PAEL) in their meeting held at 11:00 A.M. on Friday October 28, 2011, at Factory Premises, 14-Kilometers Ferozepur Road, Lahore have approved the following Un-Audited Financial Results of the Company for the 3rd Quarter Ended 30-09-2011.

 

(Rupees in Thousands)

Period Ended

Quarter Ended

September 30

September 30

September 30

September 30

2011

2010

2011

2010

Revenue  11,446,27516,719,6123,539,392  4,465,674
Less: Sales Tax and Discount  2,086,1672,026,867 601,697 400,887
  ———- ———- ——— ———
Revenue-Net 9,360,10814,692,745 2,937,6954,064,787
Cost of Sales7,910,62011,543,1612,391,971 3,167,295
———- ———- ——— ———
Gross Profit 1,449,4883,149,584545,724 897,492
Other Operating Income14,90429,7642,52914,691
  ———- ———-  ——————
 1,464,3923,179,348548,253  912,183
Distribution cost 600,329  884,319 220,450 258,014
Administrative Expenses 445,930544,323146,731 134,093
Other Operating Expenses19,220  59,24012,55013,663
Finance Cost 1,413,760 1,144,188  549,069392,001
Share of (Profit) / Loss of associate (5,156) 2,600  (4,482) 875
———-———- ——— ———
Profit/ (Loss) before Taxation  (1,020,003)  549,878 (385,029) 115,287
Provision for Taxation (357,001) 200,182 (134,760)40,840
 ———- ———- ——————
Profit / (Loss) for the Period (663,002)349,696 (250,269) 74,447
 ———- ———- ———  ———
Earnings per Share

(Rupees)

(Rupees)

Basic (5.85) 2.87  (2.19)0.61

 

Appointment of Directors

We have to inform you that Mr. Akber Hasan Khan Nominated by NBP u/s 182 of the Companies Ordinance 1984 in Place of Mr. Wajahat A. Baqai (Nominee NBP u/s 182 of the Companies Ordinance 1984) and Mr. M. Khurram Khawaja Nominated by NBP u/s 182 of the Companies Ordinance 1984 in Place of Mr. Rizwan Hameed (Nominee NBP u/s 182 of the Companies Ordinance 1984) have been appointed as Directors on the Board of Directors of the Company with effect from 28-10-2011.

For more information, contact:
M. Omer Farooq
Secretary
Pak Electron Limited
17- Aziz Avenue, Canal Bank,
Gulberg- V, Lahore – 54660, Pakistan
P.O. Box No: 675
Tel: 92-42-5718274-77
Fax: 92-42-5762707
E-mail: saiglogroup@saigols.com