Karachi, The Board of Directors of Sanghar Sugar Mills Limited released the financial results for the quarter ended June 30, 2023. Despite facing challenges, the company reported a gross profit of Rs. 216,837, but a loss of Rs. 104,990 after taxation.

Financial Results:

Sales: Rs. 2,510,329 in 2023 compared to Rs. 3,321,470 in 2022

Gross Profit: Rs. 216,837 in 2023 compared to Rs. 403,900 in 2022

Operating Profit/Loss: Rs. 49,455 in 2023 compared to Rs. 237,883 in 2022

Profit/Loss before Taxation: Rs. (81,266) in 2023 compared to Rs. 164,529 in 2022

Profit/Loss after Taxation: Rs. (104,990) in 2023 compared to Rs. 72,560 in 2022

Earnings per share (Basic and Diluted): (Rs. 8.79) in 2023 compared to Rs. 6.07 in 2022

Dividends and Shares:

The Board recommended the following actions:

1. Interim Cash Dividend: NIL% (Rs. NIL per share) for the quarter ended June 30, 2023, in addition to the Interim Dividend(s) already paid at Rs. NIL per share.

2. Interim Bonus Shares: NIL% (NIL share(s) for every NIL share(s) held) in addition to the Interim Bonus Shares already issued@ NIL%.

3. Right Shares: NIL% Right Shares to be issued at par/at a discount/premium of Rs. NIL per share in proportion of NIL share(s) for every NIL share(s). The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.

Corporate Actions:

No other entitlement/corporate action or price-sensitive information was declared.

Share Transfer Book Closure:

The Share Transfer Books of the Company will be closed from N/A to N/A (both days inclusive). Transfers received at the N/A at the close of business on N/A will be treated in time for the purpose of the above entitlement to the transferees.