Amreli Steels Limited (ASTL): FY18 EPS settled at PKR 5.34; up 48% YoY – By Taurus Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Amreli Steels Limited (ASTL) announced its FY18 financial results today, wherein the re-bar roller registered a PAT of PKR 1.6bn (EPS: PKR 5.34), up 48%YoY. Alongside, The company also declared a cash dividend of PKR 2.20/share.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Sales revenue in FY18, grew by 17%YoY on the back of a rise in average selling prices and higher production output.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Consequently, earnings witnessed a jump of 48%YoY on the back of i) a 12%YoY rise in gross profit and ii) significant reduction in taxation (on account of tax credit availed in relation to the new Dhabeji line). This despit...