Corporate Result: ASTL reports losses of Rs 688 Mn in 3rd Quarter


Amreli Steel Ltd (ASTL) has unveiled its financial results for the Nine Months ended March 31, 2020, as per results, the company has announced losses of Rs. 688 million (LPS: 2.23)

The losses emanated mainly from higher raw material cost which left a significant impact on the gross margins, rise in major expense heads, and skyrocketing tax expense.

The company Gross Profit declined by 4.36% from Rs.1.06  Bn for the Nine Months period.

The profitability of the company also suffered at the hands of Finance cost, which showed a 1.08x increase due to the increase in policy rates in the last few months.

The topline income of the company, however, surged by 14.25% on account of frequent price adjustments, witnessed especially during the third quarter.

ASTL – 3rd Quarter

Quarter ended

LPS 2020 = (1.26) PKR
EPS 2019 = 0.99 PKR

Nine Months Ended

LPS 2020 = (2.32) PKR
EPS 2019 = 0.75 PKR

Cash Dividend = NIL
Bonus Share = NIL