ISL reports 58% decline in net earnings

10:14
October 15, 2019
MG

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

Posted on: 2019-10-15T15:14:00+05:00

30552

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PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	278.40000	278.50000	278.50000	278.40000	03:02 PM
2	EUR	1.06320	1.06326	1.06326	1.06320	09:17 PM
3	GBP	1.24195	1.24204	1.24204	1.24195	09:17 PM
4	CHF	0.90960	0.91000	0.91000	0.90960	09:17 PM
5	JPY	154.45900	154.46900	154.46900	154.45900	09:17 PM
6	CAD	1.37806	1.37820	1.37820	1.37808	09:17 PM
7	AUD	0.63897	0.63904	0.63904	0.63897	09:17 PM
8	INR	83.60860	83.60910	83.60910	83.60860	09:17 PM
9	SAR	3.75110	3.75130	3.75130	3.75110	06:17 AM
10	AED	3.67260	3.67280	3.67280	3.67260	06:17 AM
11	HKD	7.83260	7.83270	7.83270	7.83260	09:17 PM
12	CNH	7.25707	7.25759	7.25759	7.25707	09:17 PM
13	CNY	7.23820	7.23920	7.23920	7.23820	11:17 PM
14	THB	36.87800	36.90200	36.90200	36.87800	09:17 PM
15	MYR	4.78700	4.79200	4.79200	4.78700	09:00 PM
16	IDR	16,225.60000	16,269.10000	16,269.10000	16,225.60000	09:17 PM
17	SGD	1.36405	1.36420	1.36420	1.36405	09:17 PM
18	NZD	0.58790	0.58802	0.58802	0.58790	09:17 PM
19	MXN	17.15670	17.16170	17.16169	17.15669	09:17 PM
20	TRY	32.56280	32.57280	32.57280	32.56280	09:17 PM
21	SEK	10.99660	11.01170	11.01172	10.99656	09:17 PM
22	ZAR	19.19570	19.23560	19.23560	19.19570	09:17 PM
23	NOK	11.06220	11.07380	11.07375	11.06220	09:17 PM
24	DKK	7.01700	7.01800	7.01800	7.01700	09:17 PM
25	ARS	872.81900	872.97000	872.96982	872.81932	09:16 PM
26	BDT	108.44500	111.82900	111.82862	108.44472	09:00 PM
27	BHD	0.37697	0.37701	0.37701	0.37697	03:41 AM
28	BRL	5.24170	5.24470	5.24470	5.24170	09:13 PM
29	KRW	1,388.00000	1,388.47000	1,388.47000	1,388.00000	09:17 PM
30	KWD	0.30833	0.30843	0.30843	0.30833	06:17 AM
31	LKR	299.02400	305.60400	305.60412	299.02431	09:00 PM
32	OMR	0.38497	0.38500	0.38500	0.38497	03:41 AM
33	QAR	3.64550	3.64850	3.64850	3.64550	06:17 AM
34	RUB	93.70000	94.60000	94.60000	93.70000	08:00 PM
35	AFN	71.30700	73.18700	73.18701	71.30705	09:00 PM
36	AZN	1.70000	1.70000	1.70000	1.70000	06:42 AM
37	TMT	3.35000	3.65000	3.65000	3.35000	08:00 PM
38	MVR	15.26000	15.66000	15.66000	15.26000	08:00 PM
39	UZS	12,706.60000	12,772.40000	12,772.35727	12,706.55913	09:00 PM
40	PHP	57.49800	57.53300	57.53300	57.49800	09:17 PM
42	NGN	1,150.58000	1,151.58000	1,151.58000	1,150.58000	09:00 PM
43	KES	132.00000	134.00000	134.00000	132.00000	08:24 PM
44	AMD	368.65800	425.05600	425.05593	368.65753	09:00 PM
45	TWD	32.52000	32.53400	32.53400	32.52000	09:17 PM
46	XAU	2,388.89000	2,389.17000	2,389.17000	2,388.89000	09:16 PM
47	XAG	28.39620	28.40530	28.40530	28.39620	09:16 PM
48	XPT	939.85000	942.25000	942.25000	939.85000	06:17 AM
49	XPD	1,015.25000	1,023.25000	1,023.25000	1,015.25000	06:17 AM
2,120	VES	36.25120	36.34220	36.34216	36.25125	08:00 PM
2,212	UGX	3,780.61000	3,865.21000	3,865.20656	3,780.60817	09:00 PM
2,213	TZS	2,582.99000	2,583.01000	2,583.01500	2,582.98500	08:24 PM

Data is delayed by 20 minutes

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	70,645.30	70,290.119	69,783.32	-43.199	-0.061	237,694,811.0	11,463,504,265.170	18/04/2024 04:13 PM
ALLSHR	46,417.10	46,207.855	45,927.10	-25.142	-0.054	440,121,509.0	24,355,862,169.420	18/04/2024 04:13 PM
KSE30	23,225.12	23,093.810	22,904.89	-26.776	-0.116	98,900,681.0	9,116,464,844.550	18/04/2024 04:13 PM
KMI30	118,354.77	117,354.600	116,464.95	-245.338	-0.209	149,225,217.0	8,668,512,964.260	18/04/2024 04:13 PM
KMIALLSHR	32,968.78	32,723.866	32,557.70	-28.234	-0.086	281,881,154.0	20,769,541,762.000	18/04/2024 04:13 PM
BKTi	17,793.43	17,582.049	17,476.13	-169.939	-0.957	18,567,387.0	2,410,715,151.990	18/04/2024 04:13 PM
OGTi	16,667.42	16,459.940	16,334.74	-2.499	-0.015	12,106,369.0	1,792,912,599.580	18/04/2024 04:13 PM

Data is delayed by 20 minutes

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Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	62,630.0	63,840.0	62,625.0	-1,030.00
BRENT CRUDE	EB	88.0	88.2	86.9	0.87
RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-5.20
ROTTERDAM COAL MONTHLY	ET	120.0	120.0	119.1	-0.35
USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
CRUDE OIL – WTI	QCL	83.1	83.3	81.9	1.01
SUGAR #11 WORLD	SB	19.6	19.7	19.2	0.29

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