Mughal Iron & Steel Industries Ltd (MUGHAL) announced its financial results earlier today, posting NPAT of PkR665mn (EPS: PkR1.80) for the quarter, up 3.2x YoY. However, the result falls below our expectations due to lower-than-anticipated gross margins. This takes half-year profitability to PkR1.67bn (EPS: PkR4.51), up 7.7x YoY.
- Net revenue clocked in at PkR21.7bn during the quarter, down 14%YoY. The decline is primarily attributable to weaker ferrous volumes and lower long-steel prices, which averaged PkR220k/ton during the quarter (vs PkR230k/ton in SPLY).
- Gross margins clocked in at 9.2%, compared to 8.8% during the period. The slight incline is possibly due to higher copper export prices and lower effective grid tariffs during the period.
Full Report
https://research.akdsl.com/639077937765298158.pdf
Courtesy -AKD Research
