Sitara Chemical Industries Limited’s financial results for the third quarter ended March 31, 2013

Karachi, April 11, 2013 (PPI-OT): We have to inform you that the Board of Directors of Sitara Chemical Industries Limited (SITC) in their meeting held at 11:00 a.m. on Wednesday April 10, 2013 approval the financial results of the company for the Third quarter ended March 31, 2013.

The financial results are as follows:

Nine Months Ended

Three Months Ended

March 31,

March 31,

March 31,

March 31,

2013

2012

2013

2012

Rupees in Thousands

Sales

6,090,523

5,349,748

1,836,996

1,720,064

Cost of goods sold

4,444,230

3,910,903

1,466,091

1,295,478

———

———

———

———

Gross Profit

1,646,293

1,438,845

370,905

424,586

Other operating Income

22,501

23,391

334

6,582

———

———

———

———

1,668,794

1,462,236

371,239

431,168

———

———

———

———

Distribution cost

(87,825)

(88,072)

(22,004)

(31,539)

Administrative expenses

(95,396)

(158,094)

(31,085)

(50,942)

Other Operating expenses

(70,332)

(55,500)

(8,989)

(15,381)

Shares of Profit of associated company

9,915

9,099

25,254

1,075

Impairment loss on investment

-

(19,465)

-

(3,087)

———

———

———

———

Operating profit

1,425,166

1,150,249

334,415

331,294

Finance cost

382,583

523,976

110,986

163,630

———

———

———

———

Net profit for the period before taxation

1,042,583

626,273

223,429

167,664

Taxation

286,142

164,808

71,235

20,716

———

———

———

———

Net profit for the period after taxation

756,441

461,465

152,194

146,948

———

———

———

———

Earning per share-basic (Rupees)

35.30

21.53

7.10

6.86

For more information, contact:
Mazhar Ali Khan
Company Secretary
Sitara Chemical Industries Limited
601-602, Business Centre,
Mumtaz Hasan Road, Karachi-74000
Tel: (021) 32413944, 32420620
Fax: (021) 3241-5452
E-mail: sitarakhi@yahoo.com
Website: www.sitara.com.pk