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.
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