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Mughal Iron & Steel Industries post profits worth Rupees 474.225 million

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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.

Posted on: 2018-02-26T14:42:00+05:00