Earnings Report: Amreli Steel (PSX: ASL) today reported Financial Results for the twelve months ended June 30, 2017

MG News | August 28, 2017 at 12:10 PM GMT+05:00

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Amreli Steels announced Financial Results for the period ended June 30, 2017.

The company’s Sales for the period increased by 7.13 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 16.01 percent.

The board has recommended a final Cash Dividend for the year ended June 30, 2017 at the rate of 20% i.e. Rs 2.00/- per share. The board issued no bonus or right shares.

Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Twelve Months Ended
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Sales	13,283,811,229	12,400,191,349	7.13%
Cost of Sales	10,815,624,056	9,608,236,222	12.57%
Gross Profit	2,468,187,173	2,791,955,127	-11.60%
Dist: Costs	337,266,551	341,325,913	-1.19%
Admin: Costs	324,830,812	216,283,236	50.19%
Other Expenses	116,550,926	165,014,968	-29.37%
Other Income	7,357,725	15,398,750	-52.22%
Operating Profit	1,696,896,609	2,084,729,760	-18.60%
Finance Costs	251,583,475	335,534,389	-25.02%
Profit before taxation	1,445,313,134	1,749,195,371	-17.37%
Taxation	371,260,430	470,446,343	-21.08%
Net profit for the year	1,074,052,704	1,278,749,028	-16.01%
EPS - Basic & diluted	3.62	4.81	-24.74%

Company release on Earnings Report can be accessed here.

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