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Feroze1888 Mills fiscal Q1 profit climbs YOY

Feroze1888 Mills Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 90 Pakistani paisa per share, a gain from 86 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 338.8 million rupees, a gain from 325.3 million rupees in the prior-year period.

The normalized profit margin rose to 7.5% from 7.4% in the year-earlier period.

Total revenue climbed year over year to 4.51 billion rupees from 4.39 billion rupees, and total operating expenses increased on an annual basis to 4.03 billion rupees from 3.94 billion rupees.

Reported net income increased on an annual basis to 495.3 million rupees, or 1.31 rupees per share, from 474.3 million rupees, or 1.26 rupees per share.

As of Oct. 27, US$1 was equivalent to 102.90 Pakistani rupees.