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ICC Textile Limited’s financial results for 1st quarter ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on Monday, October 31, 2011 at 3:30 p.m. and adjourned meeting held on Tuesday, November 1, 2011 at 4:00 p.m. at Company’s registered office 242-A, Anand Road, Upper Mall, Lahore have approved the 1st Quarter Accounts for the period ended September 30, 2011.

The financial results of the Company for the 1st quarter ended September 30, 2011 are as follows:

 

Unaudited

Unaudited

Jul-Sep

Jul-Sep

2011

2010

Rupees

Rupees

-Sales  479,199,033  524,679,884
-Cost of Sales 478,842,187 506,726,433
 ———– ———–
-Gross Profit  356,846 17,953,451
Operating Expenses
Administrative  7,585,283  6,715,494
Distribution cost 5,856,040 3,257,021
Other operating expenses 194,650  192,084
 13,635,973 10,164,599
 ———– ———–
-Operating (Loss) / Profit  (13,279,127) 7,788,852
-Financial Cost 24,227,432 29,080,756
 ———–  ———–
 (37,506,559)  (21,291,904)
-Other Operating Income/ (Charges)  21,696,909   2,387
-Loss before Taxation (15,809,650) (21,289,517)
-Taxation 2,587,261  3,008,398
 ———– ———–
-Loss after Taxation  (18,396,911)  (24,297,915)
 ———–  ———–
-Loss per Share – Basic and Diluted  (0.61)  (2.43)

 

For more information, contact:
Usman Haq
Company Secretary
ICC Textile Limited
242-A, Anand Road, Upper Mall,
P.O. Box: 1280, Lahore- 54000, Pakistan
Tele: (042) 35751785-87
Fax: (042) 35789206,
E-mail: icctex@wol.net.pk

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