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Sitara Energy Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of Sitara Energy Limited (SEL) in their meeting held at 12:00 noon on Thursday, October 6, 2011 approved the financial results of the company for the year ended June 30, 2011.

Final Cash Dividend

Board has approved final cash dividend for the year ended June 30, 2011 at Rs. 10.00 per share (10%).

The financial results are enclosed herewith:

We will send you 300 copies of printed accounts for distribution amongst the members of the Exchange in due course of time.

The Share Transfer Books of the company will remain closed from October 22, 2011 to October 31, 2011 (both days inclusive) Transfer received in order at the Company’s Shares Registrar’s Office i.e. M/s. Noble Computer Services (Pvt.) Ltd., 1st Floor House of Habib Building, Main Shahrah-e-Faisal, Karachi, at the close of business on October 21, 2011 will be treated in time for the purpose of final cash dividend.

The Twenty First Annual General Meeting of the Company will be held on October 31, 2011 at Karachi.

Financial Results for the Year Ended June 30, 2011

 

Year Ended Year Ended
 June 30, 2011 June 30, 2011
 Rupees  Rupees
Sales-net 3,753,491,599 3,875,481,450
Cost of generation 3,305,509,890 3,397,025,763
 ————-  ————-
Gross Profit 447,981,709 478,455,687
Other operating income 9,841,400  4,793,930
————- ————-
457,823,109 453,249,617
Operating expenses  65,570,154 66,708,865
Other operating expenses 4,821,534 5,872,610
Finance Cost 295,903,428 303,741,580
————- ————-
366,295,716 376,323,055
————- ————-
Profit for the year before taxation  91,527,393  106,926,562
Provision for taxation 486,659  (268,789)
 ————- ————-
Profit for the year 91,040,734 107,195,351
————-  ————-
Earning per share–Basic and diluted  4.77 5.61

 

For more information, contact:
Mazhar Ali Khan
Company Secretary
Sitara Energy Limited
601-602, Business Centre,
Mumtaz Hasan Road,
Karachi – 74000
Tel: 021 241-3944
Fax: 021 241-5452
Email: sitarako@cyber.net.pk
Web: www.sitara.com.pk

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