Pakistan Company News

Financial results of Crescent Jute Products Limited for Quarter ended March 31, 2019

Karachi, Crescent Jute Products Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 25, 2019.

The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2019 which portrayed a loss of Rs. 7,943,267 with loss per share 0.33 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Crescent Jute Products Limited is a company incorporated in Pakistan on September 19, 1964 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is manufacturing and sale of jute products. This also includes the production of jute bags. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchange of Pakistan. The registered office of the company is located in Lahore.

The company is part of the crescent group which comprises of diverse business interests including Textiles, Textile value added, Sugar, Steel and Banking. The manufacturing facility of the company is located in Jaranawala, Central Punjab spread over an area of 127 acres comprising of 500 conventional and 60 shuttle-less looms along with the requisite back process. The company has an existing workforce of 3,000 employees and produces 30,000 metric tons of Jute products annually. The product of the company comprises a mix of Sacking, Hessian and Twine Jute.

The symbol “CJPL” is being used by the stock exchanges for the shares of Crescent Jute Products Limited.