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

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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, 30^th 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

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, September 30^th 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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BRENT CRUDE	67.46	67.94 67.29	-0.52 -0.76%
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CRUDE OIL - WTI	64.01	64.55 63.88	-0.59 -0.91%
SUGAR #11 WORLD	16.34	16.52 16.33	-0.14 -0.85%