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
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.
| Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30th 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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