August 16, 2019 (MLN): The meeting of the Board of Directors of International Steels Limited (ISL) is Scheduled to take place on Monday i.e. August 19, 2019 to review and discuss the financial results of the company for the year ended on June 30th 2019.
According to the projections put forward by various research houses, the company is expected to report Profit-after-Tax (PAT) of over Rs. 3.12 billion, as compared to PAT of Rs. 4.36 billion. This suggests that the company is expected to observe approx. 29% decline in its earnings compared to last year.
Profit-After-Tax (PAT) for FY19
EPS (Earnings per share)
YoY % Change in PAT
Taurus Securities Limited
Rs 3.16 billion
Ismail Iqbal Securities
Rs 3.12 billion
Multiline Securities Limited
Rs 3.13 billion
The expected decline in company’s profit is mainly attributed to lower volumetric sales during the last quarter. As the company increased its prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) due to PKR devaluation which are expected to impact demand negatively.
Furthermore, higher finance cost due to increase in borrowings for higher working capital requirements and hike in interest rate during FY19 is also expected to play a major role in declining company’s earnings.
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