Pakistan: Amreli Steel posts loss on declining sales & high input costs

Pakistan’s Amreli Steel recorded a loss of PKR 438 million in the fourth quarter of fiscal 2020 compared to loss of PKR 191 million in previous quarter a year ago. Global pandemic resulting in slowdown of construction activities across the country, the sales volumes of the company fell by 45% y-o-y, as per reports. In addition to it, high input costs and interest rates further increased loss.