Karachi, Sindh Abadgars Sugar Mills Limited, in their recent board meeting held in Karachi on May 23, 2023, has released their financial results for the half-year and quarter ended on March 31, 2023. The company made several recommendations, including cash dividends, bonus issues, right shares, and other entitlements. The condensed interim statement of profit or loss (unaudited) reveals the company's performance during the specified period.
For the six-month period ended on March 31, 2023, the net sales revenue stood at Rs. 1,794,521,017 compared to Rs. 1,230,308,661 in the corresponding period of the previous year. The cost of sales amounted to Rs. 1,564,477,519, resulting in a gross profit of Rs. 230,043,498.
Finance costs incurred during the period amounted to Rs. 148,825,279. Consequently, the profit before taxation stood at Rs. 76,236,715. After accounting for taxation, with a net amount of Rs. 2,745,062, the company reported a profit after taxation of Rs. 62,491,653 for the six-month period.
For the quarter ended on March 31, 2023, the net sales revenue amounted to Rs. 949,028,329 compared to Rs. 1,146,172 in the same quarter of the previous year. The gross profit for the quarter was reported at Rs. 221,428,953.