79892 2015 rs 50820 1694000 less purchase and related

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Local sale of yarn (net of sales tax of Rs. 79,892 (2015: Rs. 50,820))1,694,000Less: Purchase and related expenses(1,058,810)(2,657,418)1,604,206(963,418)30.DISTRIBUTION COSTSalaries, wages and other benefits30.12,728,7142,500,968Commission on:Local sales13,703,4647,212,962Export sales31,590,16657,555,799Freight, forwarding and others on export sales19,477,82834,139,621Export development surcharge3,389,0565,500,448Foreign bank charges and other export expenses13,529,68116,577,75984,418,909123,487,55730.1 These include Rs. 200,153 (2015: Rs. 172,878) in respect of staff gratuity.31.ADMINISTRATIVE EXPENSESDirector's meeting fee10,5004,000Directors' remuneration6,000,0008,550,000Staff salaries and other benefits31.118,111,41419,479,646Vehicles running and maintenance3,641,7024,191,774Utilities712,542938,360Travelling and conveyance1,898,2952,628,098Printing and stationery480,581475,897Communication1,313,2081,482,836Rent, rates and taxes31.23,084,52184,785Repair and maintenance1,267,2241,377,502Entertainment864,5941,596,813Fees and subscription2,064,8503,087,379Advertisement137,82295,861Depreciation on property, plant and equipment3.1.17,855,4587,969,375Amortization of intangible assets4240,000240,000Auditors' remuneration31.3657,500775,000Legal and professional charges416,060731,776Others554,134396,91649,310,40554,106,01831.1 These include Rs. 1,004,847 (2015: Rs. 877,122) in respect of staff gratuity.31.2 These include Rs. 3,000,000 (2015: Rs. Nil) paid to a director against rent of Head Office.31.3Auditors' remuneration500,000500,000Annual auditHalf yearly review150,000150,000Taxation services-120,000Certification7,5005,000657,500775,00042
Downloaded from: Ahmad Hassan Textile Mills Limited20162015NotesRupeesRupees32. OTHER OPERATING EXPENSES458,247Workers' Profit Participation Fund-Unrealized loss on remeasurement short term investments112,350-Loss on sale of short term investments299,012-Charity and donation32.1188,800183,1551,058,409183,15532.1.Donations were not made to any donee in which the Company, a director or his/her spouse had any interest atany time during the year.33.FINANCE COSTMarkup on:44,585,985Long term financing41,784,105Short term finances under markup arrangements60,724,18862,161,050Interest on Workers' Profit Participation Fund-122,996Bank charges2,894,7332,264,619108,204,906106,332,77034.TAXATIONCurrent tax:Minimum tax payable on local sales21,271,00712,182,016Final tax on exports realization13,933,40720,985,91835,204,41433,167,934Tax credits under section 65B of Income Tax Ordinance, 2001(11,297,214)(30,593,185)23,907,2002,574,749Prior year adjustment(262,810)2,351,753Deferred tax - net3,180,262(55,422,328)26,824,652(50,495,826)Relationship between tax expense and accounting profitThe provision for current taxation represents the minimum tax and final tax liabilities under section 113 and 169 of the Income Tax Ordinance, 2001. Accordingly tax charge reconciliation has not been prepared and presented.35.LOSS PER SHARE35.1Basic(18,117,960)Loss after taxationRupees(19,974,925)Weighted average number of ordinary sharesNo.14,408,248.814,408,248.8Loss per shareRupees(1.26)(1.39)35.2 DilutedThere is no dilutive effect on the basic loss per share of the Company as at June 30, 2016 and June 30, 2015.43
Downloaded from: Ahmad Hassan Textile Mills LimitedNotes36.CASH FLOWS FROM OPERATING ACTIVITIESProfit / (loss) before taxationAdjustments for:Depreciation on property, plant and equipment Amortization of Intangible assetsProvision for Workers' Profit Participation Fund Gain on disposal of property, plant and equipment Profit on long term investmentsLoss / (gain) on short term investments Mark-up on security deposit with SNGPL Gain on exchange rate fluctuation - net Finance costCash flows before working capital changes Working capital changes:(Increase) / decrease in current assets: Stores, spare parts and loose

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