Higher finance cost drags down ISL profits by 27%

05:32
April 17, 2019
MG

April 17, 2019 (MLN): International Steels Limited has reported its net profits for nine months ended on March 31st 2019 at Rs 2.36 million, down by 27% YOY.

The decline in profits are mainly attributable to muted volumetric growth, lower gross margins and higher finance cost.

Among other major heads, the company's finance cost has increased substantially by 182% compare to same period last year, due to higher debt needed to finance the expansion project and working capital needs.

However, during the period company's taxes observed a decline of 64% compared to last year payments.

Financial Results for the Nine months Ended March 31st 2019 ('000 Rupees)

	Mar-19	Mar-18	% Change
Net Sales	40,522,480	34,817,652	16.38%
Cost of Sales	(35,902,841)	(29,003,643)	23.79%
Gross profit	4,619,639	5,814,009	-20.54%
Administrative Expenses	(197,824)	(167,811)	17.89%
Selling and distribution expenses	(470,411)	(316,866)	48.46%
Finance costs	(1,009,812)	(357,931)	182.12%
Other operating charges	(248,234)	(515,448)	-51.84%
Other income	124,783	63,172	97.53%
Profit before taxation for the year	2,818,141	4,519,125	-37.64%
Taxation	(458,390)	(1,284,904)	-64.32%
Profit after taxation for the year	2,359,751	3,234,221	-27.04%
Earnings per share – basic and diluted (Rupees)	5.42	7.43	-27.05%

Copyright Mettis Link News

Posted on: 2019-04-17T10:32:00+05:00

27480

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EQUITY

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FOREX

PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	278.60000	278.80000	278.80000	278.60000	01:02 PM
2	EUR	1.07112	1.07115	1.07115	1.07112	09:49 AM
3	GBP	1.25042	1.25046	1.25046	1.25042	09:49 AM
4	CHF	0.91319	0.91323	0.91323	0.91319	09:49 AM
5	JPY	156.89800	156.90600	156.90600	156.89800	09:49 AM
6	CAD	1.36652	1.36657	1.36657	1.36652	09:49 AM
7	AUD	0.65424	0.65427	0.65427	0.65424	09:49 AM
8	INR	83.34670	83.34770	83.34770	83.34670	09:49 AM
9	SAR	3.75050	3.75070	3.75070	3.75050	06:50 PM
10	AED	3.67280	3.67300	3.67300	3.67280	06:50 PM
11	HKD	7.82859	7.82880	7.82880	7.82859	09:49 AM
12	CNH	7.26250	7.26263	7.26263	7.26250	09:49 AM
13	CNY	7.23930	7.24050	7.24050	7.23930	11:15 PM
14	THB	36.95800	37.00000	37.00000	36.95800	09:49 AM
15	MYR	4.76500	4.77000	4.77000	4.76500	04:58 AM
16	IDR	16,211.10000	16,217.40000	16,217.40000	16,211.10000	09:49 AM
17	SGD	1.36090	1.36105	1.36105	1.36090	09:49 AM
18	NZD	0.59538	0.59549	0.59549	0.59538	09:49 AM
19	MXN	17.13500	17.14000	17.14004	17.13504	09:49 AM
20	TRY	32.44730	32.45680	32.45678	32.44733	09:49 AM
21	SEK	10.90510	10.90650	10.90649	10.90513	09:49 AM
22	ZAR	18.75900	18.76650	18.76648	18.75898	09:49 AM
23	NOK	10.99800	11.00020	11.00019	10.99799	09:49 AM
24	DKK	6.96144	6.96210	6.96210	6.96144	09:49 AM
25	ARS	874.74100	874.75100	874.75090	874.74090	09:48 AM
26	BDT	108.01100	111.36500	111.36523	108.01142	07:19 AM
27	BHD	0.37703	0.37708	0.37708	0.37703	06:18 PM
28	BRL	5.12050	5.12350	5.12350	5.12050	09:49 AM
29	KRW	1,375.22000	1,375.66000	1,375.66000	1,375.22000	09:49 AM
30	KWD	0.30791	0.30801	0.30801	0.30791	06:49 PM
31	LKR	292.57900	299.10100	299.10051	292.57908	07:19 AM
32	OMR	0.38498	0.38503	0.38503	0.38498	06:18 PM
33	QAR	3.64600	3.64800	3.64800	3.64600	06:49 PM
34	RUB	92.27000	92.29000	92.29000	92.27000	08:00 PM
35	AFN	71.15810	73.02130	73.02133	71.15807	07:19 AM
36	AZN	1.70000	1.70000	1.70000	1.70000	06:54 AM
37	TMT	3.35000	3.65000	3.65000	3.35000	08:00 PM
38	MVR	15.26000	15.66000	15.66000	15.26000	08:00 PM
39	UZS	12,600.10000	12,665.30000	12,665.30340	12,600.09037	07:19 AM
40	PHP	57.65600	57.71700	57.71700	57.65600	09:49 AM
42	NGN	1,305.72000	1,306.72000	1,306.72000	1,305.72000	07:26 AM
43	KES	134.00000	136.00000	136.00000	134.00000	08:19 AM
44	AMD	388.08000	388.08000	388.08000	388.08000	08:16 AM
45	TWD	32.56230	32.59230	32.59230	32.56230	09:49 AM
46	XAU	2,337.39000	2,338.63000	2,338.63000	2,337.39000	09:49 AM
47	XAG	27.40320	27.41080	27.41080	27.40320	09:49 AM
48	XPT	912.45800	919.01900	919.01950	912.45830	06:50 PM
49	XPD	963.05300	969.93200	969.93170	963.05260	06:50 PM
2,120	VES	36.33200	36.42320	36.42315	36.33204	08:00 PM
2,212	UGX	3,770.25000	3,854.09000	3,854.09049	3,770.24515	07:19 AM
2,213	TZS	2,589.99000	2,590.01000	2,590.01500	2,589.98500	06:47 AM

Data is delayed by 20 minutes

EQUITY

Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	72,862.41	72,742.748	71,764.18	771.347	1.072	302,352,233.0	14,307,377,262.460	26/04/2024 05:12 PM
ALLSHR	47,721.89	47,489.465	47,040.09	314.510	0.667	540,778,150.0	22,562,380,076.020	26/04/2024 05:12 PM
KSE30	24,069.72	24,033.869	23,676.59	284.824	1.199	79,764,833.0	9,454,683,795.040	26/04/2024 05:12 PM
KMI30	122,624.63	122,414.850	120,539.93	1,511.894	1.251	130,473,781.0	8,715,975,575.960	26/04/2024 05:12 PM
KMIALLSHR	34,120.82	34,003.274	33,623.23	303.834	0.902	336,036,323.0	17,261,793,362.150	26/04/2024 05:12 PM
BKTi	18,098.00	18,061.700	17,783.46	189.341	1.059	12,829,416.0	1,502,941,695.300	26/04/2024 05:12 PM
OGTi	17,165.47	17,018.023	16,915.39	-13.038	-0.077	13,158,963.0	1,843,356,910.500	26/04/2024 05:12 PM

Data is delayed by 20 minutes

COMMODITIES

Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	64,550.0	65,390.0	64,175.0	-720.00
BRENT CRUDE	EB	89.5	89.8	89.0	0.49
RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-0.70
ROTTERDAM COAL MONTHLY	ET	117.5	117.5	117.5	-1.05
USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
CRUDE OIL – WTI	QCL	84.1	84.5	83.6	0.48
SUGAR #11 WORLD	SB	19.4	19.6	19.0	0.27

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