Dewan Farooque Spinning Mills : Financial Results for the Quarter Ended March 31,2022

April 25, 2022

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building, Stock Exchange Road Karachi, Pakistan.

Subject: Dear Sirs,

Financial Results for the third Quarter ended March 31, 2022

FORM-3

We have to inform you that the Board of Directors of our company in their meeting held on April 25, 2022 at 09:30 am at Karachi, Pakistan, recommended the following:

(i) CASH DIVIDEND AND/OR

(ii) BONUS SHARES AND/OR

(iii) RIGHT SHARES AND/OR

(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION AND/OR

(v) ANY OTHER PRICE-SENSITIVE INFORMATION

Nil Nil Nil Nil Nil

The un-audited financial results of the Company for the Nine Months and Third Quarter ended March 31, 2022, are as follows:

Nine Months Ended	Quarter Ended
March 31,	March 31,	March 31,	March 31,
2022	2021	2022	2021
-------------------------(Rupees)--------------------------
Sales / Revenue - Net	504,372,418	450,990,700	169,878,455	158,798,700
Cost of sales / revenue	(590,855,680)	(470,320,564)	(202,367,669)	(152,048,234)
Gross profit / (loss)	(86,483,262)	(19,329,864)	(32,489,214)	6,750,466
Operating expenses
Administrative expenses	(23,714,263)	(48,552,918)	(6,557,196)	(11,891,346)
Selling and distribution expenses	(6,970,456)	(6,336,215)	(2,680,056)	(2,108,371)
(30,684,719)	(54,889,133)	(9,237,252)	(13,999,717)
Operating (loss)	(117,167,981)	(74,218,997)	(41,726,466)	(7,249,251)
Other charges
Finance cost	(32,041,000)	(27,207,650)	(12,834,977)	(9,030,404)
(32,041,000)	(27,207,650)	(12,834,977)	(9,030,404)
(Loss) before taxation	(149,208,981)	(101,426,647)	(54,561,443)	(16,279,655)
Taxation
Current	(6,304,655)	(6,764,861)	(1,412,681)	(2,381,981)
Deferred	23,288,264	12,750,363	7,762,755	4,250,121
16,983,609	5,985,502	6,350,074	1,868,140
(Loss) after taxation	(132,225,372)	(95,441,145)	(48,211,369)	(14,411,515)
(Loss) per share - basic and diluted	(1.35)	(0.98)	(0.49)	(0.15)