TITU MAMA LIMITED
STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED
DECEMBER 31, 2020
2020
Rupees
Revenue 44,758
Cost of sales (26,202)
Gross profit 18,556
Administrative expense (753)
Selling expense (4,040)
Distribution cost (2,391)
Other operating expenses (424)
Other income 30
Profit from operation 10,978
Finance cost (144)
Profit before tax 10,834
Taxation -
Profit after tax 10,834
Rupees
REVENUE in million
Sales - manufactured goods 56,528
Sales - imported goods 1,078
57,606
Less: sales discount (2,594)
Less: sales tax (10,254)
44,758
SALES TAX
Sales tax - manufactured goods 10,201
Sales tax - imported goods 53
10,254
COST OF SALES
Manufactured goods 25,566
Finished goods 636
26,202
FINISHED GOODS - MANUFACTURED
Opening inventory 1,210
Cost of goods manufactured 25,509
Closing inventory (1,153)
25,566
FINISHED GOODS - IMPORTED
Opening inventory 44
Purchases of finished goods 658
Closing inventory (66)
636
COST OF GOODS MANUFACTURED
Opening inventory of raw material 1,751
Purchase of raw material 22,603
Closing inventory of raw material (2,125)
Cost of raw material consumed 22,229
Direct labor
- Salaries, wages & benefits 1,302
Prime cost 23,531
Factory overheads
Depreciation & amortization 901
Stationary and office expenses 58
Repairs and maintenance 268
Utilities 624
Stores and spares consumed 180
Cost of production 25,561
Opening inventory of WIP 73
Closing inventory of WIP (125)
Cost of goods manufactured 25,509
55% of salaries, wages & benefits, 70% of depreciation
and amortization, 25% of stationary and office expense,
85% of repair and maintenance and 85% of utilities
have been allocated to the Cost of Goods Manufactured
Statement.
ADMINISTRATIVE EXPENSE
Salaries, wages & benefits 355
Depreciation & amorization 129
Stationary & office expenses 81
Repairs and maintenance 32
Utitlities 73
Legal and professional charges 71
Auditor's remuneration 13
753
15% of salaries, wages & benefits, 10% of depreciation
and amortization, 35% of stationary and office expense,
10% of repair and maintenance and 10% of utilities
have been allocated to the Administrative Expenses.
AUDITOR'S REMUNERATION
Audit fees 8
Non-audit assurance services 4
out-of-pocket expenses 1
13
SELLING EXPENSES
Advertisement & sales promotion 4,040
Rupees
DISTRIBUTION COST in million
Salaries, wages & benefits 710
Depreciation & amorization 257
Stationary & office expenses 92
Repairs and maintenance 16
Utitlities 37
Outward freight & handling 1,279
2,391
30% of salaries, wages & benefits, 20% of depreciation
and amortization, 40% of stationary and office expense,
5% of repair and maintenance and 5% of utilities have
been allocated to the Distribution Cost.
OTHER OPERATING EXPENSES
Donations 34
Loss on disposal of PPE 10
Exchange loss on interest payment 25
Workers profit participation fund 257
Retirement & other service benefits 98
424
Retirement & other service benefits
Provident fund 54
Gratuity fund 44
98
OTHER INCOME
Scrap sales 16
Dividend income 12
Return on savings account 2
30
FINANCE COST
Fin Charges on short term borrowings 133
Fin Charges on Lease 11
144
