Mughal Iron & Steel Industries Limited (MUGHAL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales earned worth Rs. 16.620 billion. Furthermore, the company’s Gross Profit for the year jumped up by 57.29 percent at 2.115 billion during the outgoing nine months.
On the expenses front, MUGHAL reported 102.94 percent increase in Marketing & Distribution Costs, 24.3 percent increase in Administrative Expenses, whereas, other charges at the company increased by 48.91 percent during the period.
Mughal Steel & Iron Steel Limited reported profit after taxation at Rs. 946.886 million up from 726.932 million last year translating into an EPS of Rs. 3.76 vs. an EPS of Rs. 3.10 during the nine months ending March, 2017.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018
Key Financials
March, 2018
March, 2017
% Change
Amounts in PKR’ 000
Sales
16,620,275
13,265,817
25.29%
Cost of Sales
14,504,952
11,920,996
21.68%
Gross Profit
2,115,322
1,344,821
57.29%
Distribution and Marketing Costs
188,436
92,854
102.94%
Administrative Expenses
220,314
177,243
24.30%
Other Charges
91,668
61,560
48.91%
Other Income
33,281
26,016
27.93%
Finance Costs
407,716
164,338
148.10%
Profit before Taxation
1,240,467
874,841
41.79%
Taxation
293,581
147,908
98.49%
Profit after Taxation
946,886
726,932
30.26%
EPS – Basic and diluted
3.76
3.10
21.29%
Company release on Earnings Report can be accessed here.
