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.
Comparison of Key Financials
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.