Karachi: International Steel Ltd (ISL) has reported a significant increase in its earnings for the second quarter of the fiscal year 2026, driven by higher net revenues and increased profit from associates. The company's earnings reached PkR995 million, translating to an earnings per share (EPS) of PkR2.3, marking a 2.8 times increase year-on-year and surpassing market expectations.

According to AKD Securities Limited, ISL's net revenue for the quarter stood at PkR23.0 billion, reflecting a 26% year-on-year and 10% quarter-on-quarter growth. This rise was attributed to robust domestic volume growth and a recovery in export sales. The imposition of a 40.47% anti-dumping duty on galvalume imports, previously misclassified as HDGC, has significantly boosted the volumes for formal players in the market. Additionally, a 10% general sales tax levied on producers in the FATA/PATA regions contributed to the normalization of volumes.

The company also announced a cash dividend of PkR2.0 per share for the first half of fiscal year 2026, contrasting with no payout during the same period last year. Gross margins improved to 10.0% from 8.1% in the same quarter of the previous year, primarily due to a broader CRC-HRC spread of US$79 per ton, compared to US$55 per ton previously.