Earning Review: ASL’s profits drop massively by 80% owing to higher cost of sales

05:55
September 2, 2019
MG

September 2, 2019 (MLN): Aisha Steel Mills Limited (ASL)’s annual net profits declined massively by 80% to Rs 253 million from Rs 1.28 billion last year with Earnings per share reported at Rs 0.26.

The huge decline in ASL’s profits was mainly attributable to increase in cost of sales by 19% which allowed company’s gross profits to decline by 49% to Rs 1.67 billion from Rs 3.3 billion last year.

Moreover, over the year company’s selling and distribution cost surged by 31% while its administrative expenses soared by 30% which further helped in declining company’s profitability.

In addition to this, the company enjoyed tax reversal of Rs 666 million, which provided a cushion to the earnings.

Profit and Loss Account for the Year Ended June 30,2019 (Rupees '000)
	2019	2018	% Change
Revenue	20,230,797	18,903,907	7.0%
Cost of sales	(18,552,531)	(15,589,753)	19.0%
Gross Profit	1,678,266	3,314,154	-49.4%
Selling and distribution cost	(25,070)	(19,128)	31.1%
Administrative expenses	(249,346)	(192,255)	29.7%
Other expenses	(2,684)	(143,595)	-98.1%
Other income	51,711	35,345	46.3%
Profit from operations	1,452,877	2,994,521	-51.5%
Finance cost	(1,865,306)	(1,078,941)	72.9%
Profit/(loss) before taxation	(412,429)	1,915,580
Taxation	666,127	(631,598)
Profit/(loss) for the period	253,698	1,283,982	-80.2%
Earnings/(loss) per share – Basic	0.26	1.57	-83.4%

Copyright Mettis Link News

Posted on: 2019-09-02T10:55:00+05:00

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1	PKR	278.20000	278.40000	278.40000	278.20000	01:03 PM
2	EUR	1.06690	1.06720	1.06720	1.06690	12:10 AM
3	GBP	1.23680	1.23700	1.23700	1.23680	12:10 AM
4	CHF	0.91026	0.91075	0.91074	0.91026	12:11 AM
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6	CAD	1.37970	1.38020	1.38020	1.37970	12:10 AM
7	AUD	0.64140	0.64180	0.64180	0.64140	12:10 AM
8	INR	83.37020	83.37070	83.37070	83.37020	08:00 PM
9	SAR	3.75120	3.75140	3.75140	3.75120	09:12 AM
10	AED	3.67220	3.67320	3.67320	3.67220	01:57 AM
11	HKD	7.83130	7.83140	7.83140	7.83130	12:10 AM
12	CNH	7.23884	7.23892	7.23892	7.23884	08:00 PM
13	CNY	7.24030	7.24040	7.24040	7.24030	07:10 PM
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15	MYR	4.78150	4.78650	4.78650	4.78150	08:00 PM
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18	NZD	0.58850	0.58910	0.58910	0.58850	11:19 PM
19	MXN	17.08550	17.11550	17.11550	17.08550	12:10 AM
20	TRY	32.48060	32.49060	32.49060	32.48060	08:00 PM
21	SEK	10.89960	10.92770	10.92770	10.89960	12:10 AM
22	ZAR	18.77030	19.81930	19.81933	18.77031	12:10 AM
23	NOK	11.01490	11.02090	11.02090	11.01490	12:10 AM
24	DKK	7.00130	7.00230	7.00230	7.00130	11:19 PM
25	ARS	870.10300	870.11100	870.11115	870.10271	12:11 AM
26	BDT	108.06500	111.44600	111.44612	108.06470	08:00 PM
27	BHD	0.37700	0.37710	0.37710	0.37700	08:32 PM
28	BRL	5.20200	5.20500	5.20500	5.20200	08:00 PM
29	KRW	1,373.58000	1,375.41000	1,375.41000	1,373.58000	08:00 PM
30	KWD	0.30836	0.30846	0.30846	0.30836	01:56 AM
31	LKR	298.75800	305.33300	305.33326	298.75827	08:00 PM
32	OMR	0.38498	0.38515	0.38515	0.38498	01:57 AM
33	QAR	3.64600	3.64900	3.64900	3.64600	01:59 AM
34	RUB	93.20000	94.60000	94.60000	93.20000	08:00 PM
35	AFN	71.00000	73.00000	73.00000	71.00000	08:00 PM
36	AZN	1.70000	1.70000	1.70000	1.70000	06:27 AM
37	TMT	3.36000	3.66000	3.66000	3.36000	08:00 PM
38	MVR	15.25000	15.65000	15.65000	15.25000	08:00 PM
39	UZS	12,670.00000	12,740.00000	12,740.00000	12,670.00000	08:00 PM
40	PHP	57.45800	57.68800	57.68800	57.45800	08:00 PM
42	NGN	1,149.00000	1,153.00000	1,153.00000	1,149.00000	08:00 PM
43	KES	133.00000	134.00000	134.00000	133.00000	08:00 PM
44	AMD	392.60000	392.60000	392.60000	392.60000	08:00 PM
45	TWD	32.53300	32.53900	32.53900	32.53300	08:00 PM
46	XAU	2,390.01000	2,391.71000	2,391.71000	2,390.01000	10:45 PM
47	XAG	28.65580	28.68580	28.68580	28.65580	10:45 PM
48	XPT	931.58700	937.31300	937.31280	931.58720	02:00 AM
49	XPD	1,026.51000	1,034.34000	1,034.33590	1,026.50920	02:00 AM
2,120	VES	36.25120	36.34210	36.34210	36.25125	08:00 PM
2,212	UGX	3,768.41000	3,852.95000	3,852.94560	3,768.40998	08:00 PM
2,213	TZS	2,591.49000	2,591.51000	2,591.51500	2,591.48500	08:00 PM

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	70,968.98	70,909.904	70,186.93	619.785	0.882	214,724,945.0	13,651,927,649.760	19/04/2024 05:13 PM
ALLSHR	46,573.62	46,547.234	46,105.96	339.379	0.735	475,634,499.0	23,214,193,723.360	19/04/2024 05:13 PM
KSE30	23,393.38	23,376.569	23,058.97	282.759	1.224	116,554,680.0	11,831,374,214.290	19/04/2024 05:13 PM
KMI30	118,779.97	118,572.725	117,247.45	1,218.125	1.038	148,956,005.0	11,119,881,421.450	19/04/2024 05:13 PM
KMIALLSHR	33,051.27	33,022.390	32,695.54	298.524	0.912	317,804,569.0	19,951,289,708.390	19/04/2024 05:13 PM
BKTi	17,861.34	17,826.912	17,489.40	244.864	1.393	16,782,769.0	1,601,100,031.210	19/04/2024 05:13 PM
OGTi	16,766.60	16,652.098	16,435.08	192.159	1.167	13,610,174.0	1,842,349,761.040	19/04/2024 05:13 PM

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Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	64,150.0	65,640.0	59,635.0	490.00
BRENT CRUDE	EB	87.4	90.8	86.2	0.28
RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-6.15
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USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
CRUDE OIL – WTI	QCL	82.1	85.6	81.1	0.01
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