Dewan Farooque Spinnig Mills Limited’s financial results for the first quarter ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on October 31, 2011 at 04:30 p.m. of Karachi, Pakistan, 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 un-audited financial results of the Company for the First Quarter ended September30, 2011, are as follows:

 

	July 2011	July 2010
	to	to
	Sept2011	Sept2010
	(Rupees)
Sales and Services (Net)	339,787,517	398,320,884
Cost of Sales	370,479,717	355,512,038
	———–	———–
Gross (Loss) / Profit	(30,692,140)	42,808,846
Administrative and General expenses	8,440,041	4,242,692
Selling and distribution expenses	8,137,427	5,463,114
	———–	———–
	16,577,468	9,705,806
	———–	———–
Operating (Loss) / Profit	(47,269,608)	33,103,040
Other Income	610,674	96,945
	———–	———–
	(46,658,934)	33,199,985
Other Charges
Finance cost	2,840,721	61,133
Worker’s Profit Participation Fund	–	1,656,943
	———–	———–
	2,840,721	1,718,076
	———–	———–
(Loss) / Profit before taxation	(49,499,655)	31,481,909
	———–	———–
Taxation
Current	3,635,097	3,995,933
Deferred	–	8,995,018
	———–	———–
	3,635,097	12,990,951
	———–	———–
(Loss)/ Profit after taxation	(53,134,752)	18,490,958
	———–	———–
Basic (toss) / earnings per share (Rupees)	(0.54)	0.31

 

For more information, contact:
Haroon Iqbal
Director
Dewan Farooque Spinnig Mills Limited
Finance and Trade Centre (FTC),
7th Floor, Block-A,
Shahrah-e-Faisal, Karachi- Pakistan
UAN: (92-21) 111-364-111
Fax: (92-21) 5630860
Web: www.dewangroup.com