Islamabad: Mughal Iron and Steel Ltd. (MUGHAL) and Amreli Steels Limited (ASTL), two of Pakistan’s prominent rebar manufacturers, are expected to report subdued earnings for the first quarter of fiscal year 2025. This forecast continues the trend of recent quarters where both companies have faced significant financial challenges.
According to JS Global, MUGHAL is anticipated to post an earnings per share (EPS) of Rs0.13 for 1QFY25, marking a decline of 91% year-over-year. Meanwhile, ASTL is expected to report continued losses, with a loss per share (LPS) of Rs3, compared to an LPS of Rs0.6 in the same quarter of the previous year.
The ongoing struggles in the long steel sector are attributed to elevated inflation levels and reduced demand from the construction sector, which have persisted for some time. JS Global analysts suggest that a recovery in demand to normal levels could serve as a critical positive catalyst for these steel manufacturers, potentially stabilizing their financial performances in upcoming quarters.
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