Aisha Steel Limited profits rise by 13.85 percent to Rs. 1.106 billion

MG News | April 27, 2018 at 03:24 PM GMT+05:00

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Aisha Steel Limited (ASL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 14.531 billion; up 33.20 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 2.654 billion from Rs. 1.678 billion last year during the outgoing nine months.

On the expenses front, ASL reported 1.70 percent increase in Selling and Administration Expenses, 5.69 percent increase in Administrative Expenses, whereas, Other Expenses incurred by the company went up by 127.82 percent during the period.

Furthermore, ASL also reported a 89.65 percent increase in Other Income reaching Rs. 30.410 million during the nine months.

Aisha Steel Limited reported profit after taxation at Rs. 1.106 billion against Rs. 971.645 million during the same period last year translating into an EPS of Rs. 1.36 vs. an EPS of Rs. 2.05 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Revenue	14,351,495	10,774,482	33.20%
Cost of Sales	11,696,605	9,095,757	28.59%
Gross Profit	2,654,890	1,678,725	58.15%
Selling and Administration Expenses	13,611	13,383	1.70%
Administrative Expenses	143,977	136,227	5.69%
Other Expenses	121,867	53,492	127.82%
Other Income	30,410	16,035	89.65%
Profit from Operations	2,405,845	1,491,658	61.29%
Finance Costs	778,179	715,769	8.72%
Profit before Taxation	1,627,666	775,889	109.78%
Taxation	521,481	195,756	166.39%
Profit after Taxation	1,106,185	971,645	13.85%
EPS - Basic	1.36	2.05	-33.66%
EPS - Diluted	1.33	1.32	0.76%

Company release on Earnings Report can be accessed here.

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