ISL reports 58% decline in net earnings

News Image

By MG News | October 15, 2019 at 03:14 PM GMT+05:00

0:00

October 15, 2019 (MLN): International Steels Limited has declared net earnings of Rs. 347.9 million (EPS: Rs. 0.8) for the quarter ended on September 30, 2019, i.e. nearly 58% lower than the earnings of same period last year.

The sales revenue remained stable, despite company’s decision to lower prices of HRC. Moreover, the rise in the prices of HDGC and CRC, due to devaluation of local currency, failed to pull the revenue up.

The finance cost escalated by 133% due to increase in working capital requirements as well as higher interest rates on borrowings.

It is pertinent to note that the results of the company were somewhat in line with market expectations, wherein the general consensus was that earnings would go up by roughly 50%.

Financial Results for the quarter ended September 30, 2019 ('000 Rupees)

 

Sep-19

Sep-18

% Change

Net Sales

11,545,349

11,627,840

-0.71%

Cost of Sales

(10,311,143)

(10,008,752)

3.02%

Gross profit

1,234,206

1,619,088

-23.77%

Administrative Expenses

(61,760)

(65,870)

-6.24%

Selling and distribution expenses

(244,151)

(109,629)

122.71%

Finance costs

(667,214)

(285,357)

133.82%

Other operating charges

(24,369)

(94,836)

-74.30%

Other income

64,533

78,252

-17.53%

Profit before taxation for the year

301,245

1,141,648

-73.61%

Taxation

46,681

(300,305)

-115.54%

Profit after taxation for the year

347,926

841,343

-58.65%

Earnings per share - basic and diluted (Rupees)

0.80

1.93

-58.55%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,403.19
324.46M
0.02%
33.04
ALLSHR 83,188.05
1,204.34M
0.13%
106.90
KSE30 40,651.46
104.88M
-0.13%
-53.85
KMI30 192,083.92
123.92M
-0.26%
-496.76
KMIALLSHR 55,847.70
679.22M
0.02%
11.98
BKTi 36,422.88
17.65M
0.29%
105.71
OGTi 28,437.61
10.77M
-0.37%
-105.35
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,395.00 109,685.00
107,680.00
940.00
0.87%
BRENT CRUDE 69.40 69.72
69.03
-0.18
-0.26%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.05
2.15%
ROTTERDAM COAL MONTHLY 106.25 106.25
106.25
0.10
0.09%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.63 67.99
67.33
-0.30
-0.44%
SUGAR #11 WORLD 16.26 16.37
16.14
-0.02
-0.12%

Chart of the Day


Latest News
July 08, 2025 at 05:29 PM GMT+05:00

Money Link Exchange shuts down operations


July 08, 2025 at 04:41 PM GMT+05:00

Gold price in Pakistan rises Rs1,500 per tola


July 08, 2025 at 04:25 PM GMT+05:00

CCP clears 69 M&A deals in FY25


July 08, 2025 at 04:00 PM GMT+05:00

PSX Closing Bell: Holding the Line



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg