Pakistan International Bulk Terminal : Transmission of Quarterly Report for the Period Ended

QUARTERLY

REPORT

September 30, 2022

Pakistan International Bulk Terminal Limited

PAKISTAN INTERNATIONAL BULK TERMINAL LIMITED

	Company Information	3
	Directors' Report	4
		5
	Condensed Interim Financial Statements	6

PAKISTAN INTERNATIONAL BULK TERMINAL LIMITED

			Company Information
Board of Directors
Chairman	Capt. Haleem A. Siddiqui
Chief Executive Officer	Mr. Sharique Azim Siddiqui
Directors	Capt. Zafar Iqbal Awan
			Syed Nadir Shah
			Mr. Ali Raza Siddiqui
			Ms. Farah Agha
			Mr. Nadeem Nisar
Chief Financial Officer	Mr. Arsalan I. Khan, FCA
Company Secretary	Mr. Karim Bux, ACA
	Audit Committee
	Chairman		Syed Nadir Shah
	Members	Capt. Zafar Iqbal Awan
			Mr. Ali Raza Siddiqui
			Ms. Farah Agha
Chief Internal Auditor &	Mr. Noman Yousuf
Secretary
Human Resource &
Remuneration Committee	Syed Nadir Shah
	Chairman
	Members	Mr. Sharique Azim Siddiqui
			Mr. Ali Raza Siddiqui
Secretary	Mr. Arsalan I. Khan, FCA
Auditors	EY Ford Rhodes
			Chartered Accountants
			6th Floor, Progressive Plaza, Beaumont Road,
			P.O. Box 15541, Karachi-75530
Legal Advisors	Khalid Anwer & Co.
			153-K , Sufi Street, Block-2, PECHS, Karachi 75400
			Kabraji & Talibuddin
			406-407, 4th Floor, The Plaza at II Talwar, Block-9, Clifton, Karachi.
			H.B. Corporate - Legal Consulting
			Suite # M-97, Mezzanine Floor, Glass Tower, Clifton Road, Karachi.
Bankers	Al-Baraka Bank (Pakistan) Limited	Meezan Bank Limited
			Allied Bank Limited	National Bank of Pakistan
			Askari Bank Limited	Samba Bank Limited
			Dubai Islamic Bank Limited	Habib Bank Limited
			Faysal Bank Limited	United Bank Limited
			JS Bank Limited
			MCB Bank Limited
Registrar / Transfer Agent	CDC Share Registrar Services Limited
			CDC House, Main Shahrah-e-Faisal, Karachi
Registered Office	2nd Floor, Business Plaza, Mumtaz Hassan Road, Karachi-74000
			Pakistan. Tel. [phone] Fax. [phone]
Terminal Office	NWIZ/LL/02, North Western Industrial Zone, Port Qasim Authority,
			Karachi, Pakistan. Tel: [phone]
			03

PAKISTAN INTERNATIONAL BULK TERMINAL LIMITED

Directors' Report

The Directors are pleased to present the Financial Statements of Pakistan International Bulk Terminal Limited (PIBT) (the Company) for the period ended September 30, 2022.

BUSINESS REVIEW

The Company has entered into a Build Operate Transfer (BOT) contract with Port Qasim Authority (PQA) on November 06, 2010 for construction, development, operations and management of a coal and clinker / cement terminal at Port Muhammad Bin Qasim for a period of thirty years.

During the period, your Company has handled 2,133,006 tons cargo against 2,782,723 tons in the same period last year which is in line with the industry demand of imported coal. The management of the Company is focusing on strategies to bring more efficiency in cargo handling operations, with the objective of providing unparalleled services to its customers.

During the period, the Company has posted net loss after taxation primarily due to the impact of currency devaluation on USD denominated foreign loans. Financial highlights of the Company for the period ended September 30, 2022 as compared to the same period last year is presented below:

		PKR in '000
Particulars	1st Quarter	1st Quarter
2022-2023	2021-2022
Revenue	3,461,958	3,138,677
Gross profit	984,696	960,165
Net loss	(437,898)	(94,575)
(Loss) / earnings per Share (Rs.)	(0.25)	(0.05)

GOING FORWARD

Corresponding to the business performance above which is consistent with the industry demand, your Company is committed to enhance shareholders' value while improving productivity of cargo handling operations with an overall vision to mitigate the environmental and proficiency concerns as at Country's port infrastructure and enhance our shareholders' value.

In the end, the Board of Directors of your Company would like to reiterate their commitment to operate efficiently Pakistan's first state-of-the-art mechanized bulk cargo terminal for the handling of Coal, Clinker & Cement, compliant with international standards of excellence which will curtail environment pollution and modernize the port infrastructure of the country.

For and on behalf of the Board of Directors

Sharique Azim Siddiqui

Chief Executive Officer

Karachi: October 31, 2022

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