Amreli Steels Ltd. profits rise 21.72 percent to Rs. 997.151 million

By MG News | April 20, 2018 at 05:54 PM GMT+05:00

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Amreli Steels Limited (ASTL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales worth Rs. 10.865 billion. Furthermore, the company’s Gross Profit during the outgoing nine months rose by 23.43 percent to reach 2.145 billion.

Among other heads, Cost of Sales at the mill went up by 3.85 percent to Rs. 8.719 billion increasing the margins. Amreli Steel recently announced that production on its rebar mills has decreased by 40 percent due to power outages.

On the expenses front, Administrative Expenses at the mill went up by 29.41 percent, Distribution Costs on the other hand went down by 11.64 percent during the nine months.

Amreli Steel management reported profit after taxation at Rs. 997.151 million up by 21.74 percent from 819.246 million last year translating into an EPS of Rs. 3.36 vs. an EPS of Rs 2.76 during the nine months ending March, 2018.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR
Sales	10,865,882,245	10,135,113,885	7.21%
Cost of Sales	8,719,896,211	8,396,440,822	3.85%
Gross Profit	2,145,986,034	1,738,673,063	23.43%
Distribution Costs	228,186,183	258,251,005	-11.64%
Administrative Expenses	298,288,629	230,497,375	29.41%
Other Expenses	96,286,791	80,497,291	19.61%
Other Income	1,842,552	6,906,526	-73.32%
Operating Profit	1,525,066,983	1,176,333,918	29.65%
Finance Costs	324,034,902	186,336,525	73.90%
Profit before Taxation	1,201,032,081	989,997,393	21.32%
Taxation	203,880,450	170,751,028	19.40%
Net Profit for the period	997,151,631	819,246,365	21.72%
EPS - Basic and Diluted	3.36	2.76	21.74%

Company release on Earnings Report can be accessed here.

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