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Kohinoor Mills fiscal Q3 profit falls YOY

Kohinoor Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 17 Pakistani paisa per share, a decline of 72.2% from 61 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 8.5 million rupees, a decrease of 73.0% from 31.4 million rupees in the year-earlier period.

The normalized profit margin fell to 0.4% from 1.7% in the year-earlier period.

Total revenue rose 9.4% on an annual basis to 2.07 billion rupees from 1.90 billion rupees, and total operating expenses climbed 8.3% year over year to 1.92 billion rupees from 1.77 billion rupees.

Reported net income came to a loss of 11.0 million rupees, or a loss of 22 paisa per share, compared to income of 28.2 million rupees, or 55 paisa per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 104.81 Pakistani rupees.