Karachi: Metropolitan Steel Corporation Limited has reported a financial loss for the fiscal year ending June 30, 2025, as indicated in its recent financial statement. The company cited a decrease in revenue and an increase in administrative expenses as contributing factors to its fiscal situation.
According to the financial data, the company generated a revenue of Rs. 100.75 million in 2025, a significant decline from the Rs. 122.48 million recorded in 2024. This represents a Big move of approximately -17.76%. Meanwhile, the cost of sales also saw a reduction, amounting to Rs. 112.43 million, down from Rs. 139.69 million in the previous fiscal year. Despite the decrease in cost of sales, the gross loss stood at Rs. 11.68 million, compared to Rs. 17.21 million in 2024.
Administrative expenses rose to Rs. 17.65 million from Rs. 10.33 million, while selling and distribution costs decreased to Rs. 76,000 from Rs. 623,000. The operating loss for the year was reported at Rs. 29.41 million, a slight increase from the Rs. 28.17 million noted in 2024.
According to information available from the Pakistan Stock Exchange (PSX), the company recorded a loss before income tax of Rs. 14.27 million, an improvement from the previous year’s Rs. 25.29 million. After accounting for income tax, the loss for the year amounted to Rs. 12.42 million, compared to a loss of Rs. 23.34 million in 2024. The loss per share decreased to Rs. 0.40 from Rs. 0.75.
Metropolitan Steel’s total assets as of June 30, 2025, were valued at Rs. 912.96 million, a Moderate move increase from Rs. 890.06 million in 2024. The company’s non-current assets, including property, plant, and equipment, were valued at Rs. 810.58 million, while current assets totaled Rs. 102.38 million.
The company’s equity and liabilities included an authorized capital of Rs. 500.00 million, with issued, subscribed, and paid-up capital remaining unchanged at Rs. 309.78 million. Capital reserves increased to Rs. 568.02 million, while revenue reserves reported accumulated losses of Rs. 113.42 million.
In terms of cash flow, the company reported a net cash generation from operating activities of Rs. 16.58 million, compared to a net outflow of Rs. 559,000 in the previous year. Investing activities yielded a net cash inflow of Rs. 6.42 million, while financing activities resulted in a net cash outflow of Rs. 3.42 million.
The company’s cash and cash equivalents at the end of the fiscal year amounted to Rs. 23.01 million, up from Rs. 3.43 million at the beginning of the year, indicating a notable improvement in liquidity.
The financial results underscore the challenges faced by Metropolitan Steel Corporation Limited in maintaining profitability amid fluctuating revenue streams and rising operational costs.