Iranian rebar maker Sanat Tejarat Pardis Azerbaijan (TEDPIX:FPARDIS) lifted monthly sales 95% year-on-year to IRR17.53 trillion ($7.55mn), a bourse filing showed on September 27.

The figures, for the month to August 22, come in an amended version of the company's monthly activity report. Sales for the first 11 months of the financial year ending September 22 reached IRR193.13 trillion ($83.2mn), up 80% on the same period a year earlier.

Growth on this scale in rial terms tells only part of the story. Iran's war inflation shock and a steadily weakening rial on the open market have swollen nominal revenue across the Tehran bourse, so a 95% rise in rials buys far less in dollar or real terms.

Supply conditions in the domestic steel market have also shifted. Israeli strikes hit Iran's biggest steel plants, and Mobarakeh Steel halted production after a second strike before Tehran said it would rebuild the Isfahan plant.

Sanat Tejarat Pardis Azerbaijan began production in 2016 after buying all the shares of Pars Ram Company. It makes reinforcing bar in sizes from 8 mm to 32 mm, along with steel billets, at a plant in the Salafchegan industrial zone in Qom province, and runs a sales office in Tabriz. Its registered capital stands at IRR2 trillion ($862,000).