Mughal Iron & Steel Industries post profits worth Rupees 474.225 million
By MG News | February 26, 2018 at 02:42 PM GMT+05:00
Mughal Iron & Steel Industries Limited today announced financial results for the half year ending December 31st, 2018. The steel manufacturer reported profits worth Rupees 620.426 million, up by 30.83% during the year. Total sales at the company also surged by more than 28.8% to clock in at 11.184 billion.
On the expenses front, the company reported a surge of 116.08% in Distribution and Marketing Expenses which clocked in at Rupees 126.374 million for the period under review.
The company reported an EPS of Rs. 2.47 vs. an EPS of Rs.2.02 during year ending December, 2016.
| Unconsolidated Profit and Loss Account - For the Half Year Ended, December 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR | |||
| Sales | 11,184,902,117 | 8,683,992,903 | 28.80% |
| Cost of Sales | 9,758,002,559 | 7,813,226,403 | 24.89% |
| Gross Profit | 1,426,899,558 | 870,766,500 | 63.87% |
| Distribution and Marketing Expenses | 126,374,508 | 58,486,160 | 116.08% |
| Administrative Expenses | 146,729,822 | 109,593,029 | 33.89% |
| Other Charges | 65,130,872 | 38,667,459 | 68.44% |
| Other income | 36,904,528 | 15,764,789 | 134.09% |
| Finance Costs | 272,157,915 | 119,623,886 | 127.51% |
| Profit before Taxation | 853,410,969 | 560,160,755 | 52.35% |
| Taxation | 232,984,769 | 85,935,236 | 171.12% |
| Profit after Taxation | 620,426,290 | 474,225,519 | 30.83% |
| EPS - Basic and Diluted | 2.47 | 2.02 | 22.28% |
Company release on Earnings Report can be accessed here.
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