Hallmark : Transmission of Quarterly Financial Statements of March 31, 2023

Eager to Grow

CONDENSED INTERIM FINANCIAL STATEMENTS

(un-audited)

FOR THE NINE MONTH ENDED

MARCH 31, 2023

TABLE OF CONTENTS

Contents	Page No.
Company's Information	1
Directors' Report	2
Condensed Interim Statement of Financial Position (un-audited)	4
Condensed Interim Statement of Profit or Loss and Other Comprehensive	5
Income (un-audited)
Condensed Interim Statement of Cash flows (un-audited)	6
Condensed Interim Statement of Changes in Equity (un-audited)	7
Notes to the Condensed Interim Financial Statements	8

DIRECTORS REPORT

Dear Shareholders

The Directors of your Company are pleased to present you the un-audited condensed interim financial information for the nine-month ended on March 31, 2023. The Directors' report is prepared under section 227 of the Companies Act, 2017.

Intimation form Super Infrastructure Solutions (Pvt) Ltd through Manager Takeover Topline Securities Limited about acquiring 51% shares of the Company.

During the quarter ended March 31, 2023, the Company has received a notice of public announcement of intention from Super Infrastructure Solutions (Pvt) Ltd, through Manager Topline Securities Limited, to acquire more than 51% shares and control of the Company, beyond the thresholds prescribed under Section 111 of the Securities Act, 2015, read with Regulation 2017. The Due Diligence process has commenced and, it is expected to be completed by end of April 2023.

Company's Performance

We are pleased to inform you that the management is able to generate a small revenue of PKR 1.806 million from rendering of IT enabled services. The Board and the management are quite confident that the IT services will bring a new wave in the sustainability and profitability of the Company. We were continuously working hard not only to sustain this growth but, also performed facing the current market situation.

However, the new management will continue and improve the business ventures and volume, after completion of the takeover process in due course of time.

Operating Results

A summary of the operational results is as follows:

	Nine Month Ended		Nine Month Ended
	March 31, 2023		March 31, 2022
Revenue	1,806,250		2,430,000
Gross Profit	1,268,956		1,014,500
Operating (Loss)	(2,733,946)		(6,266,600)
(Loss) After Taxation	(2,744,339)		(6,439,667)
(Loss) per Share	(5.49)		(12.88)

The Company has earned a Gross profit of Rs. 1.3 million with a net loss of Rs. 2.7 million during the period under review, which was Rs. 1.01 million and Rs. 6.3 million respectively, in the comparative period of last year. The (Loss) per share (LPS) for the period stood at Rs. (5.49) per share and Rs. (12.88) in the comparative last year.

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