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

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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