Janana De Malucho Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 2.25 Pakistani rupees per share, a decline of 52.3% from 4.72 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.8 million rupees, a decrease of 52.3% from 22.6 million rupees in the year-earlier period.
The normalized profit margin dropped to 1.4% from 3.8% in the year-earlier period.
Total revenue grew 31.7% year over year to 791.8 million rupees from 601.0 million rupees, and total operating expenses increased 40.4% from the prior-year period to 756.2 million rupees from 538.5 million rupees.
Reported net income declined 41.4% year over year to 18.8 million rupees, or 3.92 rupees per share, from 32.0 million rupees, or 6.68 rupees per share.
As of May 6, US$1 was equivalent to 101.73 Pakistani rupees.
