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Reliance Weaving Mills fiscal Q2 profit falls YOY

4915425 said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 1.65 Pakistani rupees per share, a decline of 39.9% from 2.74 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.8 million rupees, a decline of 39.8% from 84.4 million rupees in the year-earlier period.

The normalized profit margin declined to 1.9% from 2.9% in the year-earlier period.

Total revenue fell 9.2% year over year to 2.62 billion rupees from 2.88 billion rupees, and total operating expenses fell 8.7% from the prior-year period to 2.36 billion rupees from 2.59 billion rupees.

eported net income decreased 48.3% year over year to 54.4 Reliance Weaving Mills Ltd.