SAUDI PAK INDUSTRIAL AND AGRICULTURAL INVESTMENT COMPANY LIMITED |
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CONDENSED
INTERIM UNCONSOLIDATED PROFIT AND LOSS ACCOUNT [UN-AUDITED] |
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FOR THE SIX
MONTHS ENDED 30 JUNE 2011 |
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30 June 2011 |
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30 June 2010 |
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For the |
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For the |
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For the |
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For the |
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Three months |
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Six months |
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Three months |
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Six months |
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ended |
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ended |
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ended |
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ended |
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Note |
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Rupees |
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Rupees |
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Rupees |
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Rupees |
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Mark-up/Return/Interest Earned |
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16 |
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278,229,293 |
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612,572,727 |
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396,520,688 |
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760,308,711 |
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Mark-up/Return/Interest Expensed |
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17 |
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233,725,189 |
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495,394,947 |
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296,074,864 |
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556,555,234 |
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Net Mark-up/Interest Income |
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44,504,104 |
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117,177,780 |
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100,445,824 |
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203,753,477 |
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Provision / (reversal) against non-performing
loans and advances |
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106,974,708 |
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86,931,179 |
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(87,991,349) |
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(117,537,616) |
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Provision against held-to-maturity securities |
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43,699,688 |
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43,075,188 |
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- |
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Reversal in provisions against lending to
financial institutions |
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- |
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- |
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(23,500,000) |
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(23,500,000) |
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Bad debts written off directly |
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- |
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- |
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- |
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- |
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150,674,396 |
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130,006,367 |
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(111,491,349) |
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(141,037,616) |
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Net Mark-up / Interest Income after provisions |
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(106,170,292) |
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(12,828,587) |
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211,937,173 |
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344,791,093 |
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NON MARK-UP / INTEREST INCOME |
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Fee, Commission and Brokerage Income |
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489,485 |
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1,449,491 |
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1,158,725 |
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4,332,291 |
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Dividend Income |
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24,840,079 |
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46,020,802 |
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26,732,658 |
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50,066,258 |
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Gain on dealing in quoted securities |
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12,831,582 |
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41,312,545 |
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55,418,544 |
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148,614,624 |
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Gain on dealing in mutual funds |
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31,618,950 |
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51,109,606 |
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812,862 |
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11,170,563 |
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Income from trading in government securities |
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- |
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Unrealized loss on revaluation of held for
trading investments - net |
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(1,724,111) |
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(6,127,587) |
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(11,425,371) |
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(16,709,367) |
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Loss from dealing in foreign currencies |
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(41,440,558) |
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(166,761,442) |
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(164,408,197) |
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(197,575,364) |
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Fair valuation adjustment on non-current asset
classified as held for sale |
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(75,619,891) |
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(75,619,891) |
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Other income |
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6,259,502 |
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17,858,150 |
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4,295,758 |
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14,465,462 |
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Total non mark-up/interest Income |
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(42,744,962) |
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(90,758,326) |
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(87,415,021) |
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14,364,467 |
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(148,915,254) |
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(103,586,913) |
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124,522,152 |
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359,155,560 |
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NON MARK-UP / INTEREST EXPENSES |
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Administrative expenses |
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52,681,298 |
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92,969,684 |
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56,899,872 |
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104,819,224 |
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Other provisions / write offs |
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58,543,270 |
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58,543,270 |
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- |
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- |
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Other charges - penalties imposed by SBP |
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922,250 |
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922,250 |
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701,400 |
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701,400 |
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Total non mark-up / interest expenses |
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112,146,818 |
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152,435,204 |
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57,601,272 |
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105,520,624 |
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(261,062,072) |
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(256,022,117) |
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66,920,880 |
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253,634,936 |
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Extra ordinary / unusual items |
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(LOSS) / PROFIT BEFORE TAXATION |
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(261,062,072) |
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(256,022,117) |
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66,920,880 |
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253,634,936 |
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Taxation |
– Current |
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7,730,526 |
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12,466,600 |
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13,842,003 |
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18,978,171 |
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– Prior years |
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– Deferred |
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(45,071,985) |
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(45,071,985) |
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20,725,953 |
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20,725,953 |
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(37,341,459) |
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(32,605,385) |
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34,567,956 |
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39,704,124 |
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(LOSS) / PROFIT AFTER TAXATION |
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(223,720,613) |
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(223,416,732) |
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32,352,924 |
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213,930,812 |
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(Loss) / Earning Per Share - basic and diluted
(Rupees) |
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(0.37) |
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(0.37) |
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0.05 |
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0.36 |
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General Manager/Chief Executive |
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Director |
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Director |
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Chairman |
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