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.
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.
