Amreli Steels Ltd. profit for Q1FY18 falls by 13.24% to Rs. 195.77 million
MG News | October 26, 2017 at 01:37 PM GMT+05:00
- Amreli Steels Ltd. sales for the period decreased by 15.91%, amounting to a total of 2.7 billion Rupees during the quarter ended September, 30th 2017
- Company’s Gross Profit increased by 9.73% owing to a decline of 20% in cost of sales
- The company reported a profit of 195 million, a decrease of 13.24% from last year’s profit of 225 million
- The company’s earnings per share reached 0.66 rupees in the last three months vs 0.76 in same quarter during 2016
| Unconsolidated Profit and Loss Account - For the Three Months Ended, September 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR | |||
| Sales - net | 2,706,286,342 | 3,218,486,105 | -15.91% |
| Cost of Sales | 2,196,312,150 | 2,753,753,430 | -20.24% |
| Gross Profit | 509,974,192 | 464,732,675 | 9.73% |
| Distribution Costs | 55,492,434 | 81,918,390 | -32.26% |
| Administrative expenses | 101,056,802 | 69,955,973 | 44.46% |
| Other expenses | 18,828,781 | 18,474,570 | 1.92% |
| Other income | 322,557 | 5,007,655 | -93.56% |
| Operating Profit | 334,918,732 | 299,391,397 | 11.87% |
| Finance Costs | 97,059,215 | 74,007,654 | 31.15% |
| Profit before taxation | 237,859,517 | 225,383,743 | 5.54% |
| Taxation | 42,086,798 | 257,943 | 16216.32% |
| Net profit for the quarter | 195,772,719 | 225,641,686 | -13.24% |
| EPS - Basic and diluted | 0.66 | 0.76 | -13.16% |
Company release on Earnings Report can be accessed here.
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