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Zahidjee Textile Mills fiscal Q1 profit climbs 27.0% YOY

Zahidjee Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 29 Pakistani paisa per share, an increase of 27.0% from 22 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 54.6 million rupees, a gain of 27.0% from 43.0 million rupees in the year-earlier period.

The normalized profit margin increased to 3.3% from 3.3% in the year-earlier period.

Total revenue rose 26.0% on an annual basis to 1.65 billion rupees from 1.31 billion rupees, and total operating expenses rose 26.3% on an annual basis to 1.54 billion rupees from 1.22 billion rupees.

Reported net income increased 50.0% from the prior-year period to 80.3 million rupees, or 42 paisa per share, from 53.6 million rupees, or 28 paisa per share.

As of Nov. 5, US$1 was equivalent to 105.45 Pakistani rupees.