Karachi, The recent meeting held on Wednesday, 26th July 2023, the Board of Directors of the Sindh Adadgar’s Sugar Mills Limited based in Karachi announced their financial results for the 3rd quarter ended 30th June 2023, along with various recommendations.

Financial Highlights:

Net sales for the nine-month period amounted to Rupees 2,826,617,255, and for the quarter, it reached Rupees 1,900,121,616.

Cost of sales for the same periods were Rupees (2,435,666,966) and (1,617,113,110) respectively.

Gross profit stood at Rupees 390,950,289 for the nine-month period and Rupees 283,008,506 for the quarter.

Operating income was Rupees 183,465,552 for the nine-month period and Rupees 117,876,039 for the quarter.

The company recorded a net profit after taxation of Rupees 33,039,035 for the quarter, but for the nine-month period, it reported a loss of Rupees (29,452,618).

Recommendations by the Board of Directors:

The board’s recommendations included the following:

Cash Dividend: Nil

Bonus Issue: Nil

Right Shares: Nil

Any Other Entitlement: N/A

Corporate Actions: N/A

The board’s decision to recommend no cash dividend, bonus issue, or right shares might reflect the cautious approach taken to address the financial situation.