Mughal Iron & Steel Industries profit for 1QY18 rises 19% to Rs. 305 million
MG News | October 26, 2017 at 01:05 PM GMT+05:00
- Mughal Iron & Steel Industries sales for the period increased by 45.33%, amounting to a total of 5.4 billion Rupees during three months ended September, 30th 2017
- Company’s Gross Profit increased by 49.19% to reach 667 million
- The Profit after tax for the period increased by 18.9% reaching 305 million against last year’s profit of 257 million Rupees.
- The company’s earnings per share reached 1.22 rupees in the last three months vs 1.09 in same quarter 2016
| Unconsolidated Profit and Loss Account - For the Three Months Ended, September 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR | |||
| Sales – net | 5,397,103,764 | 3,713,586,081 | 45.33% |
| Cost of Sales | 4,729,114,018 | 3,265,856,207 | 44.80% |
| Gross Profit | 667,989,746 | 447,729,874 | 49.19% |
| Distribution Cost & Marketing Costs | 42,599,958 | 19,900,087 | 114.07% |
| Administrative Expenses | 66,246,705 | 50,678,100 | 30.72% |
| Other charges | 30,412,167 | 19,163,113 | 58.70% |
| Other income | 18,060,994 | 3,443,840 | 424.44% |
| Finance cost | 146,617,526 | 90,918,603 | 61.26% |
| Profit before Taxation | 400,174,654 | 270,516,063 | 47.93% |
| Taxation | 94,462,692 | 13,402,881 | 604.79% |
| Profit after Taxation | 305,711,962 | 257,110,930 | 18.90% |
| EPS - Basic & diluted | 1.22 | 1.09 | 11.93% |
Company release on Earnings Report can be accessed here.
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