Al Abbas Sugar Mills posts 55.5% lower profits in 9 months

Javed MirzaWeb Editor

28th Jul, 2021. 03:29 pm
Sugar Mills

KARACHI: Al Abbas Sugar Mills has announced a net profit of Rs448.99 million for the nine-month period ended June 30, 2021, which is 55.5 per cent lower than Rs1.01 billion earned in the same period last year, a bourse filing said on Wednesday.

The earnings per share (EPS) for the period clocked-in at Rs25.86 as against Rs58.16 last year. Al Abbas Sugar Mills did not announce any payout along with the financial results.

Sales declined 28.7 per cent to Rs4.27 billion during the period under review, compared with the sales of Rs5.99 billion in the corresponding period of the last year.

For the quarter ended June 30, 2021, Al Abbas Sugar Mills posted a net profit of Rs76.4 million, translating into an EPS of Rs4.4, compared with the profit of Rs613.4 million and the EPS of Rs35.33 in the same period of the last year.

JDW Sugar Mills

JDW Sugar Mills has announced a net profit of Rs1.86 billion for the quarter ended June 30, 2021, which is 150 per cent higher than the profit of Rs721.34 million in the corresponding period of the last year.

The earnings per share (EPS) for the period clocked-in at Rs31.23 as against Rs12.07 in the same period of the last year. However, JDW did not declare any payout along with the financial results.

The sales during the nine months clocked-in at Rs59.34 billion, up 17.5 per cent from the profit of Rs50.50 billion last year.

For the quarter ended June 30, 2021, JDW announced a net profit of Rs1.58 billion, translating into the EPS of Rs26.50, compared with the profit of Rs306.46 million and the EPS of Rs5.13 in the corresponding period of the last year.

Mehran Sugar Mills

Mehran Sugar Mills announced a net profit of Rs263.15 million for the nine-month period ended June 30, 2021, which is 3.3 times higher than the profit of Rs77.7 million earned in the same period of the last year, primarily because of 27.4 per cent reduction in the finance cost to Rs189.9 million.

The earnings per share (EPS) for the period clocked-in at Rs5.38 as against Rs1.59 last year. The sales declined 6.7 per cent to Rs5.5 billion during the period under review as against the sales of Rs5.9 billion in the corresponding period of the last year.

For the quarter ended June 30, 2021, Mehran Sugar Mills posted a net loss of Rs35.75 million, translating into the LPS of 73 paisas.

Premier Sugar Mills and Distillery

The Premier Sugar Mills and Distillery posted a net loss of Rs93.657 million, translating into the loss per share (LPS) of Rs42.75 as against the net profit of Rs1.02 billion and earnings per share (EPS) of Rs123.92.

The sales declined 30.14 per cent to Rs9.5 billion during the period under review as against the sales of Rs13.60 billion in the corresponding period of the last year.

For the quarter ended June 30, 2021, the Premier Sugar Mills posted a net profit of Rs150.80 million, translating into the EPS of Rs11.36, compared with the profit of Rs932.05 million and the EPS of Rs123.78.

Faran Sugar Mills

Faran Sugar Mills posted a net loss of Rs285.63 million, translating into the loss per share (LPS) of Rs11.42 as against the net loss of Rs72.29 and the LPS of Rs2.89.

The sales declined 9.04 per cent to Rs3.52 billion during the period under review as against the sales of Rs3.87 billion in the corresponding period of the last year.

For the quarter ended June 30, 2021, Faran Sugar Mills posted a net loss of Rs134.74 million, translating into the LPS of Rs5.39, compared with the profit of Rs62.40 million and the EPS of Rs2.5.

Dewan Sugar Mills

Meanwhile, Dewan Sugar Mills posted a net loss of Rs664.16 million and the LPS of Rs7.26, compared with the loss of Rs768.3 million and the LPS of Rs8.40.

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