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International steels observe 43% increase in annual profits

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International Steels Limited (ISL) finalized their financial earnings for the year ended June 30th 2018, in their Board of Directors meeting held on August 15th 2018.

As per the issued results, as compared to the year ended June 30th 2017, ISL's Net sales increased by 41% while Cost of Sales witnessed a rise of almost 44%, collectively contributing towards an increase of 28% in Gross Profits

On the whole, all of company's expenses increased, yet the Profits for the period demonstrated an increase of 43%.

Other than this, Earnings per share are reported at Rs.10.03 per share as compared to Rs.7 per share last year

Financial Results for the Year Ended June 30th 2018 ('000 Rupees)

 

Jun-18

Jun-17

% Change

Net Sales

                     47,620,719

                     33,732,622

41.17%

Cost of Sales

                  (40,047,664)

                  (27,826,505)

43.92%

Gross profit

                       7,573,055

                       5,906,117

28.22%

Administrative Expenses

                        (285,397)

                        (214,876)

32.82%

Selling and distribution expenses

                        (434,292)

                        (333,794)

30.11%

Finance costs

                        (539,116)

                        (455,500)

18.36%

Other operating charges

                        (661,595)

                        (424,951)

55.69%

Other income

                           150,657

                           131,778

14.33%

Profit before taxation for the year

                       5,803,312

                       4,608,774

25.92%

Taxation

                     (1,438,354)

                     (1,564,752)

-8.08%

Profit after taxation for the year

                       4,364,958

                       3,044,022

43.39%

Earnings per share – basic and diluted (Rupees)

                               10.03

                                  7.00

43.29%

 

Posted on: 2018-08-15T14:49:00+05:00

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