International Steels Limited (ISL) today announced financial results for the nine months period ending 31 March, 2018 reporting Net Sales worth Rs. 34.817 billion. Furthermore, the company’s gross profit during the outgoing nine months rose by 26.55 percent to reach Rs. 3.234 billion.
ISL releases on the exchange show an exceptional performance during the nine months. Net Sales during the reported period went up by a huge 40.52 percent, with Cost of Sales increasing by more than 43 percent to reach 29.048 billion.
ON the Expenses front, ISL Administrative Expenses +14.91 percent, Selling & Distribution Expenses +26.71 percent and other operating charges +60.64 percent cumulatively taking away more than 716 million from the bottom line profits.
ISL Profits after taxation went up by more than 60.37 percent to reach 3.234 billion taking the company earnings per share to Rs. 7.43 vs. an EPS of Rs 4.64 during the nine months ending March, 2017.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2017
Key Financials
March, 2018
March, 2017
% Change
Amounts in PKR ‘000
Net Sales
34,817,652
24,781,934
40.50%
Cost of Sales
29,048,752
20,223,518
43.64%
Gross Profit
5,768,900
4,558,416
26.55%
Selling and Distribution Expenses
316,866
250,071
26.71%
Administrative Expenses
167,811
146,041
14.91%
Financial Charges
357,931
342,080
4.63%
Other operating Charges
515,448
320,874
60.64%
Other Income
108,281
92,913
16.54%
Profit before Taxation
4,519,125
3,592,263
25.80%
Taxation – Net
1,284,904
1,575,597
-18.45%
Profit after Taxation
3,234,221
2,016,666
60.37%
EPS – Basic and diluted
7.43
4.64
60.13%
Company release on Earnings Report can be accessed here.
