Aisha Steel Mills profits plummet by 82% to Rs1.1bn

MG News | September 28, 2022 at 10:17 AM GMT+05:00

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September 28, 2022 (MLN): Aisha Steel Mills Limited (ASL) announced results for FY22 wherein the company’s profit-after-tax declined by 82%YoY to Rs1.15 billion compared to Rs6.37bn in the corresponding period last year, the company’s filings on the stock exchange showed on Wednesday.

The company also announced preferential dividend on cumulative preference shares (PS) amounting to Rs52 million.

The company’s earnings per share clocked in at Rs1.2 from Rs6.59 in FY21.

ASL’s topline increased by 18%YoY to Rs64.83bn against Rs55.12bn in FY21.

In FY22, the company’s gross profit declined by 51% to Rs5.51bn against Rs11.19bn in FY22, the decline in gross profit is due to a 35% increase in COGS.

In FY22, profit before taxation declined 85% to Rs1.28bn against Rs8.59bn in FY21.

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