BAKU, Azerbaijan, December 26. Iran’s Kish South Kaveh Steel Company in Hormozgan Province, in the south of the country, saw its net profit soar by 180 percent in the first half of the current Iranian year (March 21 through September 22, 2023), compared to the same period last year, Trend reports.
According to the report, the company’s net profit reached 50 trillion rials (about $1.19 billion), and each share was valued at 1,580 rials (about $0.04), which is 178 percent higher than last year.
The company also increased its total sales value by 58 percent, reaching 180 trillion rials (about $4.29 billion) in six months.
Meanwhile, the company’s sales-related expenses for the reporting period rose by 41 percent, amounting to 130 trillion rials (about $3.1 billion).
Iran’s Kish South Kaveh Steel Company was founded in 2006 and is affiliated with the Mostazafan Foundation of Iran. The company has an annual production capacity of 2.4 million tons of steel.
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