Mughal Iron & Steel profit increases 49%

KARACHI: Mughal Iron & Steel Industries Limited posted a net profit of Rs253 million in the third quarter ended March 31, up 49% from Rs170 million in the same period of previous year, according to a company notice sent to the Pakistan Stock Exchange (PSX).

Earnings per share (EPS) increased to Rs2.01 from an EPS of Rs1.35 in the period under review. KSE-100 index closed at 49,481, down 345 points or 0.69% and Mughal Iron & Steel share price closed at Rs75.34, down 1.16%.

Cumulatively during the first nine months of fiscal year 2016-17, earnings clocked in at Rs727 million (or an EPS of Rs5.78), up 12% compared with Rs652 million (or an EPS of Rs5.18) in the corresponding period of previous year.

The Lahore-based company was listed on PSX in 2015.

Published in The Express Tribune, April 28^th, 2017.

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