Amreli Steels’ profit falls to Rs1.074bln

Profit of Amreli Steels Limited decreased 15.9 percent to Rs1.074 billion for the year ended June 30, 2017, translating into earnings per share (EPS) of Rs3.62, a bourse filing said on Monday.  Net income of Amreli Steels was recorded at Rs1.278 billion with EPS of Rs4.81 in the previous fiscal year of 2015/16, said a notice issued to Pakistan Stock Exchange.  The steel maker announced a final cash dividend of Rs2/share. Its revenue, however, rose 7.12 percent to Rs13.283 billion in the fiscal year of 2016/17. 

Amreli’s administrative expenses significantly surged 50 percent to Rs324.83 million during FY2017, while finance cost declined 25 percent to Rs251.58 million due to reduced leverage resulting from timely debt repayments.