Karachi: International Steels Limited (ISL) detailed its financial performance and future outlook during a corporate briefing held yesterday. The company reported a significant decline in its fourth-quarter earnings per share (EPS) of Rs1.37, a 69% decrease year-over-year, mainly due to reduced margins. However, for the full fiscal year 2024, ISL achieved a modest year-over-year increase in EPS to Rs8.4, up 4%. Alongside these results, the company declared a final dividend of Rs3.0 per share, adding to an earlier interim dividend of Rs2.5 per share.

According to JS Global, "The main factors impacting ISL's profitability were a slowdown in economic activity reducing domestic demand, higher gas tariffs which escalated utility costs, fluctuations in global steel prices, and the impact of misused sales tax exemptions in the FATA/PATA regions." These challenges have tempered the operational performance of ISL over the past fiscal year. Looking forward, due to ongoing fiscal consolidation efforts, a subdued outlook for local sales volumes in FY25 is expected. However, potential improvements in the macroeconomic climate could lead to increased demand and opportunities for growth for ISL.