Mirza Sugar Mills Limited ‘s financial results for the quarter year ended December 31, 2011

Karachi: We have to inform you that Board of Directors of our Company in their Meeting held at 10.30 a.m. on Thursday, January 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 Quarter Ended
31-12-2011 (Rs.) 31-12-2010 (Rs.)
Sales – net 80,860,595 107,654,703
Cost of sales (153,399,430) (103,430,289)
———– ———–
Gross Profit/ (loss) (72,538,735) 4,224,414
Operating Expenses:
Administration and General 16,215,091 14,034,086
Selling and Distribution 27,059 66,598
———– ———–
(16,242,150) (14,100,684)
———– ———–
Operating Profit / (loss) (88,780,885) (9,876,270)
———– ———–
Financial charges (421,625) (847,509)
Other Income / (Charges) (5,796) 0
———– ———–
(427,421) (847,509)
———– ———–
Profit / (Loss) before taxation (89,200,306) (10,723,779)
Provision for taxation:
Current (808,607) (1,076,547)
———– ———–
Net Profit / (Loss) after taxation (90,016,913) (11,800,326)
———– ———–
Earnings/ (Loss) per share – basic (6.38) (0.84)

 

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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