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

MG News | April 17, 2018 at 02:28 PM GMT+05:00

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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 30^th 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.

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