Metropolitan Steel Corporation Limited’s financial results for the quarter and nine months ended March 31, 2013

Karachi, June 03, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on May 31, 2013 at 3:30 p.m. at Plot No HE-1, Landhi Industrial Area, Karachi recommended the following:

1. Cash Dividend Nil
2. Bonus Issue Nil
3. Right Share Nil

The financial result of the Company are enclosed herewith.

Rs. in 000
Condensed Interim Profit Loss Account for the Quartet and Nine Months Ended March 31, 2013


                                                   Nine Months Ended             Quarter Ended
                                                31-03-2013   31-03-2012      31-03-2013   31-03-2012

Net Sales                                          22,530      625,943         101,421       340,136
Cost of Sales                                    (184,302)    (493,352)        (71,671)     (220,952)
                                                  -------      -------         -------       -------
Gross Profit                                       38,228      132,591          29,750       119,184
Administration and Selling Expenses               (10,621)     (22,751)         (5,050)       (9,560)
                                                  -------      -------         -------       -------
Operating Profit and (Loss)                        27,607      109,840          24,700       109,624
                                                  -------      -------         -------       -------
Other Income                                          200          294              50           162
                                                   27,807      110,134          24,750       109,786
Financial Charges                                  60,000      108,334             -          32,630
Other Charges                                         -            741             -             400
                                                  -------      -------         -------       -------
                                                   60,000      109,075             -          33,030
                                                  -------      -------         -------       -------
Profit (Loss) before taxation                     (32,193)       1,059          24,750        76,756
Taxation                                           (2,225)      (5,073)         (1,014)       (2,215)
                                                  -------      -------         -------       -------
Profit (Loss) after taxation                      (34,418)      (4,014)         23,736        74,541
                                                  -------      -------         -------       -------
Profit/ Loss per share (Rupees)                     (1.11)       (0.10)           0.76          2.41

For more information, contact:
Shakil Raza
Company Secretary
Metropolitan Steel Corporation Limited
1st Floor, Plot No.HE-1,
Landhi Industrial Area,
Karachi-75120, (Pakistan)
Tel: 35081428, 35081 429
Fax: 35081425
E-mail: mscl@cyber.net.pk
metsteel@cyber.net.pk
Website: www.metropolitansteel.com.pk

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