Jubilee Spinning & Weaving Mills : Transmission of Quarterly Report for the Period Ended 30.09.2022

Jubilee Spinning & Weaving Mills Limited

Condensed Interim Financial Information

First Quarter Ended (Un-Audited)

September 30, 2022

1

Company Information

Board of Directors
Mr. Shaukat Shafi	(Chairman)
Mr. Shams Rafi	(Chief Executive Officer)
Mr. Salman Rafi
Mr. Usman Shafi
Mr. Aurangzeb Shafi
Mr. Adnan Amjad
Mr. Umer Shafi
Mrs. Sana Salman
Audit Committee
Mr. Adnan Amjad	(Chairman)
Mr. Usman Shafi	(Member)
Mr. Shaukat Shafi	(Member)
Company Secretary
Mr. Muhammad Zeeshan Saleem
Auditors
Riaz Ahmed & Company
Chartered Accountants
Legal Advisor
Arain Law Associates
Bankers

Habib Bank Limited

National Bank of Pakistan

Soneri Bank Limited

Standard Chartered Bank (Pakistan) Limited

Habib Metropolitan Bank Limited

Faysal Bank Limited

Allied Bank Limited

Registered Office

503-E, Johar Town

Lahore, Pakistan

Mills

B-28, Manghopir Road, S.I.T.E. Karachi

Directors' Report To The Shareholders

The Directors of your Company feel pleasure in presenting the results for the 1st Quarter ended September 30, 2022.

During the year, the company incurred a loss of Rs. (0.11) million after charging costs, expenses and provision for taxation for the period. Loss incurred during same period of the previous financial year was Rs. (3.25) million.

The financial results of the concerned quarter are summarized as follows:

Period ended	September 2022	September 2021
Revenue	1,813,456	768,473
Cost of sales	(872,465)	(549,755)
Gross profit/(Loss)	940,991	218,718
Admin and other operating expenses	(12,104,173)	(13,878,046)
Other income	14,164,339	13,445,463
Financial charges	(730)	(450)
Provision for taxation	(3,111,010)	(3,040,652)
Profit after tax	(110,583)	(3,254,967)
Basic earnings per share	(0.003)	(0.10)

In comparison to the same quarter of the previous financial year, revenue increased by Rs. 1.04 million (+136%). Gross profit increased by Rs. 0.72 million or (+330%). Administrative expenses reduced by Rs. 1.77 million. Although the Company was unable to earn a net profit, the net loss has been substantially reduced.

The management of the company is confident that results will improve in the remaining three quarters of this financial year.

We would like to thank all our stakeholders for their continued support.

For and on behalf of the Board of Directors

Shams Rafi	Salman Rafi
Chief Executive Officer	Executive Director

Karachi

October 24, 2022

 



	 
 202230 

3.2540.110 

		 
		
		
2021	2022	

768,473	1,813,456		
(549,755)	(872,465)		
218,718	940,991	
28%	52%	
(13,878,046)	(12,104,173)	   	
13,445,463	14,164,339	 
(450)	(730)	 
(3,040,652)	(3,111,010)	
(3,254,967)	(110,583)	
(0.10)	(0.003)	  

 0.72     136%1.04 

 1.77   330%  



 

 	
	

	

202224