Idrees Textile Mills : FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2023

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UN-AUDTED)

FOR THE NINE MONTHS ENDED MARCH 31, 2023

		Nine Months Ended	Quarter Ended
		March 31,	March 31,	March 31,	March 31,
		2023	2022	2023	2022
	Note	------------------------------------ (Rupees) --------------------------------------
Sales - net	8	2,808,963,107	3,627,585,384	1,284,195,881	1,306,563,275
Cost of sales	9	(2,548,231,597)	(3,126,691,333)	(1,155,843,395)	(1,102,890,177)
Gross profit		260,731,510	500,894,051	128,352,486	203,673,098
Distribution cost		(23,001,070)	(28,674,447)	(8,673,648)	(11,060,631)
Administrative expenses		(80,088,667)	(71,244,030)	(27,427,211)	(23,931,464)
		(103,089,737)	(99,918,477)	(36,100,859)	(34,992,095)
		157,641,773	400,975,574	92,251,627	168,681,003
Finance cost		(201,633,624)	(121,837,819)	(90,245,786)	(43,765,768)
Other operating expenses	10	(31,837,876)	(45,329,974)	(6,837,212)	(17,901,382)
		(75,829,727)	233,807,781	(4,831,371)	107,013,853
Other income	11	43,697,695	100,591,458	9,904,318	28,281,024
(Loss) / Profit before taxation		(32,132,032)	334,399,239	5,072,947	135,294,877
Taxation		7,204,395	(64,271,890)	(15,094,463)	(25,127,691)
(Loss) / Profit for the period		(24,927,637)	270,127,349	(10,021,516)	110,167,186
OTHER COMPREHENSIVE INCOME
Items that will not be transferred subsequently to profit
or loss
Adjustment of surplus on revaluation of property, plant
and equipment due to change in tax rate	28,274,700	-	-	-
Total comprehensive income / (loss)	for the period	3,347,063	270,127,349	(10,021,516)	110,167,186
Earnings per share - basic and diluted (Rupees)	(1.26)	13.61	(0.50)	5.55

The annexed notes from 1 to 15 form an integral part of these condensed interim financial information.

CHAIRMAN / DIRECTOR

CHIEF EXECUTIVE

CHIEF FINANCIAL OFFICER

CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE NINE MONTHS ENDED MARCH 31, 2023

		Nine Months Ended	Quarter Ended
		March 31,	March 31,	March 31,	March 31,
		2023	2022	2023	2022
	Note	------------------------------------ (Rupees) --------------------------------------
Sales - net	8	2,847,289,806	3,627,585,384	1,320,625,861	1,306,563,275
Cost of sales	9	(2,581,104,744)	(3,126,691,333)	(1,188,147,478)	(1,102,890,177)
Gross profit		266,185,062	500,894,051	132,478,383	203,673,098
Distribution cost		(23,001,070)	(28,674,447)	(8,673,648)	(11,060,631)
Administrative expenses		(82,356,142)	(71,244,030)	(29,095,351)	(23,931,464)
		(105,357,212)	(99,918,477)	(37,768,999)	(34,992,095)
		160,827,850	400,975,574	94,709,384	168,681,003
Finance cost		(201,717,998)	(121,837,819)	(90,316,151)	(43,765,768)
Other operating expenses	10	(31,837,876)	(45,329,974)	(6,449,069)	(17,901,382)
		(72,728,024)	233,807,781	(2,055,836)	107,013,853
Other income	11	43,705,021	100,591,458	9,911,644	28,281,024
(Loss) / Profit before taxation		(29,023,003)	334,399,239	7,855,808	135,294,877
Taxation		7,204,395	(64,271,890)	(15,094,463)	(25,127,691)
(Loss) / Profit for the period		(21,818,608)	270,127,349	(7,238,655)	110,167,186
OTHER COMPREHENSIVE INCOME
Items that may be transferred subsequently to profit or loss
Foreign operations - foreign currency translation difference	(5,690,278)	-	(4,000,618)
Items that will not be transferred subsequently to profit or loss
Adjustment of surplus on revaluation of property, plant
and equipment due to change in tax rate		28,274,700	-	-	-
Total comprehensive income / (loss) for the period		765,814	270,127,349	(11,239,273)	110,167,186
Earnings per share - basic and diluted (Rupees)		(1.10)	13.61	(0.36)	5.55

The annexed notes from 1 to 15 form an integral part of these condensed interim financial information.

CHAIRMAN / DIRECTOR

CHIEF EXECUTIVE

CHIEF FINANCIAL OFFICER