It is a broadly described annual report of Jute Spinners Limited in the year of 2014. Current Tax provision is maintained at the rate of 15.00% on Business income and at the rate of 37.50% on Non-Operating Income. During the year the Company incurred a Net Loss of BDT 74,182,221/- and the balance of cumulative loss and Share Capital are BDT 159,656,104/- and 17,000,000/- respectively, which indicates a negative position of Shareholder Equity. During the year the Company’s Operating Expenses include Gratuity Expenses for an amount of BDT 8,229,316/-. The company earned Taka. 428,155,171 (US$ 5,393,460) in foreign currency through export. The share listed with Dhaka Stock Exchange Ltd. and quoted at Tk. 64.90 on 30 June 2014 (Face value Tk. 10.00) (2013- Tk. 77.30 Face value Tk. 10.00).
The Board of Directors regrets that no recommendation for payment of any Dividend could be made due to the fact that the Company could not make the profit for the year. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.
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