Net sales of the Company during 3QFY20 grew by +21%YoY as against the comparative period largely on the back of enhanced dispatches made during the quarter.
Gross profit margins of the Company have improved to 6% in 3QFY20 as against 5% reported in the comparative quarter of the preceding year. The improvement is ascribed to lower production costs driven largely from benign scrap prices globally as against the comparative period.
Selling and distribution costs of the Company have increased by +39%YoY, possibly incurred on account of marketing expense in line with the prevalent marketing strategy pursued by the Company lately.
Other expenses of the Company have surged substantially by 5.4x during the quarter. We await publication of interim report for an accurate analysis.
Finance charges of the Company during 3QFY20 have jacked up by +57%YoY, largely driven by substantial increase in short term borrowing requirements of the Company and higher benchmark interest rates prevalent in 3QFY20 as against the comparative quarter.
© Pakistan Press International, source