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Azgard Nine fiscal Q3 loss narrows YOY

4914691 said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 39 Pakistani paisa per share, compared with a loss of 46 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 179.4 million rupees, compared with a loss of 209.3 million rupees in the prior-year period.

The normalized profit margin dropped to negative 6.3% from negative 5.7% in the year-earlier period.

Total revenue decreased 22.2% year over year to 2.83 billion rupees from 3.64 billion rupees, and total operating expenses declined 20.7% on an annual basis to 2.84 billion rupees from 3.58 billion rupees.

Reported net income came to a loss of 315.7 million rupees, or a loss of 69 paisa per share, compared to a loss of 368.9 million rupees, or a loss of 81 paisa per share, in the prior-year period.

s of May 5, US$1 was equivalent to 101.75 Pakistani rupees.Azgard Nine Ltd

4914691 said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 39 Pakistani paisa per share, compared with a loss of 46 paisa per share in the year-earlier period.