Aisha Steel Mills enjoy a profit increase of 26 percent for the year ending on June 30th 2018: Earnings Report

By MG News | August 01, 2018 at 09:53 AM GMT+05:00

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Aisha Steel Mills Limited released a summary of their Board of Directors meeting, held on July 31^st 2018 in which the company discussed its financial earnings for the Year ending on June 30^th 2018.

As compared to the Year Ending on June 30^th 2017, Revenue increased by 34% while the Gross Profit increased by 58.8%.

Other Expenses for the company increased by 119.6% but along with that, Other Income increased by 119.2% as well, thus Profit from Operations went up by 63.6%.

The Profit before Taxation witnessed a significant increase of 117% and overall Profit for the Period rose by 25.9%.

Aisha Steel Mills further reported a 2% increase in Earnings per Share.

Profit and Loss Account for the Year Ended June 30,2018 (Rupees '000)
	2018	2017	% Change
Revenue	18,903,907	14,075,876	34.3%
Cost of sales	(15,589,753)	(11,988,484)	30.0%
Gross Profit	3,314,154	2,087,392	58.8%
Selling and distribution cost	(19,128)	(19,386)	-1.3%
Administrative expenses	(192,255)	(187,933)	2.3%
Other expenses	(143,595)	(65,382)	119.6%
Other income	35,345	16,127	119.2%
Profit from operations	2,994,521	1,830,818	63.6%
Finance cost	(1,078,941)	(948,642)	13.7%
Profit before taxation	1,915,580	882,176	117.1%
Taxation	(631,598)	137,973	-557.8%
Profit for the period	1,283,982	1,020,149	25.9%
Earnings per share - Basic and Diluted	3.11	3.05	2.0%

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