KARACHI: Aisha Steel Mills Ltd. (ASL) shared its financial performance for the fiscal year 2025 and the first quarter of fiscal year 2026 during an analyst briefing, highlighting a significant turnaround in quarterly earnings despite an overall yearly downturn.

The company experienced a 21% year-over-year decline in revenue for FY25, recording a topline of PKR 33.8 billion compared to PKR 42.7 billion in the same period last year. This decrease was largely attributed to a 10% reduction in sales volume.

ASL reported a substantial annual loss of PKR 1.4 billion, translating to a loss per share (LPS) of PKR 1.55, a significant increase from the FY24 loss of PKR 132.5 million (LPS: PKR 0.26). The decline was primarily due to reduced gross margins, which fell to 5% from 9% in the previous fiscal year.

In contrast, the company's first quarter of FY26 showed a promising improvement. ASL posted a profit of PKR 82 million, reversing a loss of PKR 843 million reported in the same quarter last year. This was driven by a 114% increase in sales volume year-over-year.

The total quantity sold in the first quarter of FY26 reached 43,376 tons, significantly higher than the 20,504 tons sold during the corresponding period last year. Export figures also improved, with 5,856 tons shipped compared to 1,975 tons previously.

The data, provided by AKD Securities Limited, underscores ASL's potential recovery trajectory as the company works to navigate ongoing market challenges.