International Steels Limited profits rise 60 percent to Rs. 3.234 billion

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.

Posted on: 2018-04-17T14:28:00+05:00