ISL: Profit plunges by 70% YoY in 9MFY23
MG News | April 20, 2023 at 10:09 AM GMT+05:00
April 20, 2023 (MLN): International Steels Limited (ISL), a market leader in CRC and GI sheets has announced its financial performance for the nine months that ended on March 31, 2023, as per which the profits after tax (PAT) of the company plummeted by 70.56% YoY to clock in at Rs1.58 billion, compared to Rs5.35bn in 9MFY22.
Subsequently, the company’s earnings per share went down from Rs12.31 per share to Rs3.62 per share.
The net revenue of the company decreased by 18%YoY to Rs57.82bn as compared to Rs70.55bn in the same period last year (SPLY).
Due to the slowdown in business activities, the gross margins of the company squeezed to 10.63% in 9MFY23 from 13.48% in the same period last year.
On the costs front, distribution and administration expenses have come at Rs435 million and Rs257mn, respectively.
Meanwhile, other expenses also witnessed an increase of 91% YoY to stand at Rs1.44bn.
The finance cost posted a surge of over 2x YoY to Rs2bn in the review period.
On the tax front, company taxation for the following period stood at Rs506mn.
|
Financial Results for the nine months period ended on March 31, 2023 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Mar-23 |
Mar-22 |
% Change |
|
Revenue from contracts with customers |
57,824,271 |
70,557,394 |
-18.05% |
|
Cost of Sales |
(51,675,090) |
(61,043,302) |
-15.35% |
|
Gross profit |
6,149,181 |
9,514,092 |
-35.37% |
|
Selling and distribution expenses |
(435,126) |
(742,502) |
-41.40% |
|
Administrative expenses |
(257,766) |
(239,569) |
7.60% |
|
Finance costs |
(2,046,705) |
(905,649) |
125.99% |
|
Other operating charges |
(1,443,711) |
(755,231) |
91.16% |
|
Other income |
116,923 |
174,774 |
-33.10% |
|
Profit before taxation for the year |
2,082,796 |
7,045,915 |
-70.44% |
|
Taxation |
(505,999) |
(1,690,701) |
-70.07% |
|
Profit after taxation for the year |
1,576,797 |
5,355,214 |
-70.56% |
|
Earnings per share - basic and diluted (Rupees) |
3.62 |
12.31 |
-70.59% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 134,299.77 290.06M |
0.39% 517.42 |
| ALLSHR | 84,018.16 764.12M |
0.48% 402.35 |
| KSE30 | 40,814.29 132.59M |
0.33% 132.52 |
| KMI30 | 192,589.16 116.24M |
0.49% 948.28 |
| KMIALLSHR | 56,072.25 387.69M |
0.32% 180.74 |
| BKTi | 36,971.75 19.46M |
-0.05% -16.94 |
| OGTi | 28,240.28 6.19M |
0.21% 58.78 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 118,140.00 | 119,450.00 115,635.00 |
4270.00 3.75% |
| BRENT CRUDE | 70.63 | 70.71 68.55 |
1.99 2.90% |
| RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
1.10 1.14% |
| ROTTERDAM COAL MONTHLY | 108.75 | 108.75 108.75 |
0.40 0.37% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
| CRUDE OIL - WTI | 68.75 | 68.77 66.50 |
2.18 3.27% |
| SUGAR #11 WORLD | 16.56 | 16.60 16.20 |
0.30 1.85% |
Chart of the Day
Latest News
Top 5 things to watch in this week
MTB Auction
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|