Aisha Steel Ltd. profits rise 45.66% to Rs. 801.399 million
MG News | February 12, 2018 at 06:48 PM GMT+05:00
ASL today released financial statements for the period ending December 31st, 2017. The company reported a revenue of Rs. 9.510 billion against Rs. 6.393 billion last year. Furthermore, company’s Gross Margins also jumped 147.98% during the last year.
Company reported a negligent rise in administrative and selling cost during the period improving its bottom line profits.
Despite a marked increase in company’s taxes by 612.68%, Aisha Steel Mills profits during the period under review jumped by 45.66% to clock in at Rs, 801.399 million versus Rs. 550.181 million. Company management reported a diluted EPS of 0.96 during the period.
| Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Revenue | 9,510,315 | 6,393,922 | 48.74% |
| Cost of Sales | 7,667,747 | 5,650,886 | 35.69% |
| Gross Profit | 1,842,568 | 743,036 | 147.98% |
| Selling and Distribution Cost | 8,348 | 8,666 | -3.67% |
| Administrative Expenses | 89,379 | 85,033 | 5.11% |
| Other Expenses | 87,350 | 12,368 | 606.26% |
| Other Income | 16,785 | 17,180 | -2.30% |
| Profit from Operations | 1,674,276 | 654,149 | 155.95% |
| Finance Cost | 495,689 | 488,774 | 1.41% |
| Profit before Taxation | 1,178,587 | 165,375 | 612.68% |
| Taxation | 377,188 | 384,806 | -1.98% |
| Profit for the period | 801,399 | 550,181 | 45.66% |
| Other Comprehensive Income | - | - |
|
| EPS - Basic | 0.98 | 1.34 | -26.87% |
| EPS - Diluted | 0.96 | 0.74 | 29.73% |
Company release on Earnings Report can be accessed here.
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