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Pakistan Hotels Developers fiscal Q2 profit climbs 94.3% YOY

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Pakistan Hotels Developers fiscal Q2 profit climbs 94.3% YOY

Pakistan Hotels Developers Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 1.96 Pakistani rupees per share, an increase of 94.0% from 1.01 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 35.2 million rupees, an increase of 94.3% from 18.1 million rupees in the prior-year period.

The normalized profit margin increased to 19.5% from 14.1% in the year-earlier period.

Total revenue grew 41.0% year over year to 180.8 million rupees from 128.2 million rupees, and total operating expenses increased 25.4% year over year to 124.4 million rupees from 99.2 million rupees.

Reported net income rose 89.4% year over year to 37.4 million rupees, or 2.08 rupees per share, from 19.7 million rupees, or 1.10 rupees per share.

As of March 11, US$1 was equivalent to 101.72 Pakistani rupees.