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Shadab Textile Mills fiscal Q2 profit falls YOY

Shadab Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 2.38 Pakistani rupees per share, a decline of 26.7% from 3.24 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 7.1 million rupees, a decline of 26.9% from 9.7 million rupees in the prior-year period.

The normalized profit margin dropped to 1.6% from 2.1% in the year-earlier period.

Total revenue declined year over year to 456.7 million rupees from 470.3 million rupees, and total operating expenses declined on an annual basis to 441.5 million rupees from 448.3 million rupees.

Reported net income increased 50.0% from the prior-year period to 9.1 million rupees, or 3.05 rupees per share, from 6.1 million rupees, or 2.03 rupees per share.

As of Feb. 25, US$1 was equivalent to 101.86 Pakistani rupees.