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
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