May 29, 2023 | FORM-3 |
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building, Stock Exchange Road
Karachi, Pakistan.
Subject: Financial Results for the Half Yearly, un-audited,condensed interim Financial
Statements of the Company for the period ended March 31, 2023
Dear Sir,
We have to inform you that the Board of Directors of our company in their meeting held on Monday, May 29, 2023 at 04:30 p.m. at Karachi, recommended the following:
(i) CASH DIVIDEND | Nil |
AND/OR | |
(ii) BONUS SHARES | Nil |
AND/OR | |
(iii) RIGHT SHARES | Nil |
AND/OR | |
(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION | Nil |
AND/OR | |
(v) ANY OTHER PRICE-SENSITIVE INFORMATION | Nil |
The Half Yearly, un-audited, condensed interim Financial Statements of the Company for the period ended March 31, 2023, are as follows:
Half Year Ended | Quarter Ended | ||||||||
Mar.31, 2023 | Mar.31, 2022 | Mar.31, 2023 | Mar.31, 2022 | ||||||
….........................'(Rupees in '000')… | |||||||||
Sales | 4,886,617 | 5,676,628 | 3,283,033 | 4,502,158 | |||||
Cost of Sales | (5,021,231) | (5,971,838) | (3,435,573) | (4,563,201) | |||||
Gross (Loss) | (134,614) | (295,210) | (152,540) | (61,043) | |||||
Administrative and General Expenses | (49,944) | (35,525) | (24,846) | (15,724) | |||||
Distribution and Selling Costs | (85,220) | (73,439) | (51,575) | (45,465) | |||||
Other Operating Income/(Loss) | (321,640) | 296 | (248,482) | 165 | |||||
(Loss) from Operations | (591,417) | (403,878) | (477,443) | (122,066) | |||||
Finance Cost | (23,313) | (21,372) | (11,664) | (10,790) | |||||
(Loss) before Income Tax | (614,730) | (425,250) | (489,107) | (132,856) | |||||
Taxation | 1,623 | (6,385) | (9,315) | (23,781) | |||||
(Loss) for the period (after Income Tax) | (613,107) | (431,635) | (498,422) | (156,637) | |||||
(Loss) per Share - Basic | |||||||||
(6.70) | (4.72) | (5.45) | (1.71) |
The Auditors have given observation on loans and markup, further non-provisioning of the markup and observation on going concern assumption of the Company.
The Quarterly Report of the Company for the period ended March 31, 2023 will be transmitted through PUCARS separately, within the specified time.
Yours faithfully,
Muhammad Ilyas Abdul Sattar | Syed Maqbool Ali |
Chief Financial Officer | Director |