Quality Textile Mills Limited’s announcement

Karachi: We are enclosing under sealed cover, the financial results and announcement for the year ended June 30, 2011, which was approved in the Board of Directors meetings, held on September 21, 2011.

Financial Result for the Year Ended June 30, 2011

We have to inform you that the Board of Directors meeting was held on Wednesday, September 21, 2011 at 10:30 A.M. at registered office of the Company 24, Ali Bhai Center, 2nd Floor, 233-A, P.E.C.H.S., Block-2, Karachi and approved the audited accounts for the year ended on June 30, 2011 and recommended the following:

Cash Dividend

A final cash dividend for the year ended June 30, 2011 at Rs. 3.5 per share i.e. 35%.

The complete profit and loss account along with appropriations of the Company for the year ended on June 30, 2011 are as follows,




30, 2011

30, 2010



Sales 2,531,350,888 1,584,087,812
Cost of goods sold (2,144,065,442) (1,335,516,836)
Gross profit 387,285,446 248,570,976
Other operating income 1,337,018 554,005
388,622,464 249,124,981
Distribution cost  (27,389,308) (29,778,611)
Administrative expenses (11,312,030) (18,485,258)
Other operating expenses (20,880,049) (18,215,531)
Finance cost (95,418,805) (65,933,481)
Profit from trading activities 10,032,132  -
Profit before taxation 243,654,404 116,712,100
Provision for taxation (42,468,271)  (21,713,887)
Profit for the year 201,186,133 94,998,213
Earning per share – (Basic and diluted) 12.59 5.95


The Annual General Meeting of the Company will be held on Wednesday October 26, 2011 at 07:00 P.M. at Registered Office 24, Ali Bhai Centre, 2nd Floor, 233-A, P.E.C.H.S, Block-2, Karachi.

The Share Transfer Books of the Company will remain closed from October 20 to October 26, 2011 (both days inclusive). Transfer received at the Share Registrar at F.D Registrar Services (SMC-Pvt.) Ltd. 1108, 11th Floor, Trade Centre, I.I. Chundrigar Road, Karachi at the close of business on October 19, 2011 will be treated in time for the above mentioned purpose.

For more information, contact:
Ali Asghar
Company Secretary
Quality Textile Mills Limited
24, Ali Bhai Centre, 2nd F1, 233-A,
P.E.C.H.S, Block-2, Karachi, Pakistan.
PABX: 0092-21-34538655
Fax: 0092-21-345387999
PH: 0303-8254985
Website: www.qualitytextile.com
Email Address: qualitytextilemills@yahoo.com