The company had reported earnings of Rs1.05 billion in the same period of previous year. “Gross margins during 3QFY19 came in at 9.9% (a 13-quarter low), slightly lower than expectations of 10.6%. Lower margins could be attributed to the reason mentioned above and greater focus of the company on exports (a relatively lower margin market),” the report added. International Steels’ share price dropped 4.1%, or Rs4.99, and closed at Rs117.12 with trading in 186,500 shares at the PSX. Finance cost rose a massive 232% during the period to Rs418 million from Rs125.6 million in the previous year.

Source: The Express Tribune April 17, 2019 04:30 UTC