Mughal Iron & Steel Industries Limited posts profits worth Rs. 946.886 million

By MG News | April 24, 2018 at 02:22 PM GMT+05:00

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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 30^th 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.

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