LAHORE: Jahangir Tareen’s JDW Sugar Mills profits tumbled 26.13 percent for the financial year 2017 ended 30th September 2017.
Gross sales of JDW Sugar Mills rose 25 percent to touch Rs50.1 billion by the end of September 30th, 2017 against Rs40.122 billion in corresponding period of 2016. Gross profits fell 32 percent to touch Rs4.893 billion by end of September 2017, compared to Rs 6.454 billion during corresponding period of 2016.
Administrative expenses by end of September 2017 rose 28.25 percent to touch Rs1.126 billion compared to 0.878 million in September 2016.
Other income by end of September 2017 surged 52.69 percent, touching Rs0.407m against Rs0.266m in September 2016.
Profits for the year ended September 2017 reached Rs1.612 billion, falling 26.13 percent compared to Rs2.033 billion in September 2016.
Earnings per share also fell 26.13 percent, touching Rs26.98 for the financial year 2017 compared to Rs34.03 in September 2016.
JDW sugar mills is engaged in the production and sale of crystalline sugar, electricity and managing corporate farms. It operates through four segments: sugar, co-Generation segment, corporate farms segment etc.
At the time of filing this report, JDW Sugar Mills shares were trading at Rs360.0, up Rs15.0 from its opening on Wednesday. KSE-100 index was trading at 43,246.63 points, up 432.29 points from its opening Wednesday.
