Annual Report 2015-2016 of Information Services Network Limited

It is a broadly described annual report of Information Services Network Limited in the year of 2015-2016. The company did not perform well due to various reasons and incurred a net loss before tax of Tk. 7,301,232.00 for the period 1^st January 2015 to 30^th June 2016. During the 18 months period, the company incurred net loss after tax of Tk. 79,52,222.00. The loss occurred mainly due to the depreciation of Tk. 44,02,996.00 on the revalued amount of fixed assets; Tk. 28.57,149.00 on extra interest expense and amortization of deferred expenses of Tk. 4,65,436.00, which was beyond the control of the Company. Cost of Goods Sold for the period ended 30^th June 2016 (January 2015 to June 2016) is Tk. 44.19 million against Tk.43.52 million for the same period of last financial year. Gross Profit for the period ended 30th June 2016 (January 2015 to June 2016) is Tk.35.82 million against Tk.30.71 million for the same period of last financial year. EPS for the 18 months period was in the negative figure Tk. 0.73

As the company incurred a net loss after tax of Tk. 7,952,222.00 and as there were no retained earnings, the Board of Directors proposed no dividend for the period 1^st January 2015 to 30^th June 2016. 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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