Corporate result: Aisha Steel’s profit surges 264% to Rs309m

EPS stood at Rs0.37 compared to Rs0.11 in period under review

KARACHI: Aisha Steel Mills Limited, part of the Arif Habib Group, has reported a net income of Rs309 million in the quarter ended September 2017, up 264% compared to Rs85 million in the same period of last year, according to a company notice sent to the Pakistan Stock Exchange (PSX).

Earnings per share (EPS) stood at Rs0.37 compared to Rs0.11 in the period under review, in line with estimates. Aisha Steel’s share price closed at Rs19.82, down 0.9%, on a day the KSE-100 Index settled at 41,595, up 303 points or 0.74%.



The company earned a net income of Rs1.01 billion in the fiscal year ended on June 30, 2017, compared with a loss of Rs157 million in the previous year. Aisha Steel, which was incorporated in 2005, has a current name plate capacity of 220,000 tons per annum, but is working to enhance it to 700,000 tons in the next 18 months.

Published in The Express Tribune, October 26^th, 2017.

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