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

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

As compared to the Year Ending on June 30th 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)
 20182017% Change
Revenue                     18,903,907                     14,075,87634.3%
Cost of sales                  (15,589,753)                  (11,988,484)30.0%
Gross Profit                       3,314,154                       2,087,39258.8%
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                             16,127119.2%
Profit from operations                       2,994,521                       1,830,81863.6%
Finance cost                     (1,078,941)                        (948,642)13.7%
Profit before taxation                       1,915,580                           882,176117.1%
Taxation                        (631,598)                           137,973-557.8%
Profit for the period                       1,283,982                       1,020,14925.9%
Earnings per share – Basic and Diluted                                  3.11                                  3.052.0%
   
Posted on: 2018-08-01T09:53:00+05:00

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