Half

Yearly

Accounts

for the Period ended

December 31, 2022

Kamran & Co

Apartment No. A/2 Ingola Apartment 24 Jail Road Lahore

DIRECTORS REPORT TO THE SHAREHOLDER

The results for the half year under review show a loss after tax amounting to Rs. 15.371 Million after accounting for administrative expenses of Rs. 13.750 Million including depreciation of Rs. 6.885 million and other operating expenses were Rs. Nil and financial cost was Rs. 0.004 million

During the period ended December 31, 2022, the operation of the mills remained Closed, however the operation of Dairy was operative. Although the management has change the main line of business from Textile to Dairy and Real Estate.

But the Management is still trying to obtain electricity connection to restart the Main Line of Business i.e. the Spinning. In this regard, the Management of the Company is hopeful that the operation of the Mill will be restarted in near future.

For and on behalf of the Board of Directors

Chief Executive Officer

Lahore

February 28, 2023

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Nazir Cotton Mills Ltd. published this content on 02 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2023 10:27:06 UTC.