KARACHI: International Steels Limited (ISL) on Tuesday proposed to invest Rs290 million for the installation of ‘additional annealing basis’.

In a statement to the stock exchange, the company said the ISL Board had approved the capital expenditure in its meeting on Jan 23.

The proposal is to invest in annealing and skin pass facilities to increase capacity by 100,000 tonnes per annum, at ISL factory at the current location.

In a separate notice, ISL said the board had also approved the capital expenditure of Rs675m for establishment of Product Service Centre at Karachi and Lahore.

ISL also released financial results for the quarter ended Dec 31, 2017.

The board declared interim cash dividend at Rs1.50 per share.

For the half year ended, ISL posted profit after tax (PAT) at Rs2.18bn and earning per share (eps) at Rs5.02, up 88 per cent from PAT at Rs1.16bn and eps of Rs2.67 in the corresponding period of 2016.

Published in Dawn, January 24th, 2018

Opinion

Editorial

‘Source of terror’
Updated 29 Mar, 2024

‘Source of terror’

It is clear that going after militant groups inside Afghanistan unilaterally presents its own set of difficulties.
Chipping in
29 Mar, 2024

Chipping in

FEDERAL infrastructure development schemes are located in the provinces. Most such projects — for instance,...
Toxic emitters
29 Mar, 2024

Toxic emitters

IT is concerning to note that dozens of industries have been violating environmental laws in and around Islamabad....
Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...