Samin Textiles Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 5.84 Pakistani rupees per share, compared with a loss of 51 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 156.2 million rupees, compared with a loss of 13.6 million rupees in the prior-year period.

The normalized profit margin increased to 31.0% from negative 1.6% in the year-earlier period.

Total revenue declined 41.4% on an annual basis to 503.1 million rupees from 858.8 million rupees, and total operating expenses declined 74.6% from the prior-year period to 214.9 million rupees from 845.4 million rupees.

Reported net income totaled 244.7 million rupees, or 9.15 rupees per share, compared to a loss of 31.1 million rupees, or a loss of 1.16 rupees per share, in the prior-year period.

As of Oct. 29, US$1 was equivalent to 103.05 Pakistani rupees.