11
Nov
15:21
Increased shipments boost Mughal's revenue, but profit slumps
Mughal Steel’s net sales rose 11% on-year in the first fiscal quarter through September to PKR 6.68 billion ($38.8 million) thanks to increased shipments, but net profit fell -25% to PKR 264.3m.
The company changed to using rail transportation for the majority of its inbound logistics operations, which resulted in cheaper logistics costs as compared to road transportation. This played a vital role in sustaining gross margins, Mughal says.
The commission…
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Very good overview of the weekly steel market.
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