KARACHI: Aisha Steel Mills Limited earned a net income of Rs1.01 billion in the fiscal year ended on June 30, compared to a loss of Rs157 million in the previous year, according to a company notice sent to the Pakistan Stock Exchange (PSX).
Earnings per share (EPS) remained Rs1.74 (basic) compared to a loss per share (LPS) of Rs1.35 in the same period of the previous year.
The KSE-100 index closed at 42,743, down 6 points or 0.02% on the first trading day of the week. Aisha Steel’s share price closed at Rs19.29, up 0.62%.
The company revenue increased to Rs14 billion in fiscal year 2017 compared with Rs9.6 billion in the previous year. It paid a tax of Rs137 million in FY17 compared to Rs37 million in the previous year.
Aisha Steel is a Group Company of Arif Habib. It is a cold rolling complex with a nameplate capacity of 220,000 tons per year. It is one of the largest private sector investments in the value added flat-rolled steel industry in Pakistan.
The company was incorporated in 2005 and its market share in cold rolled steel coils in the country is now over 50%. ASML has also entered into a strategic tie-up-with Mitsubishi Corporation to assist in and ensure seamless marketing, sales, and distribution of its products.
Published in The Express Tribune, September 26th, 2017.