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Janana De Malucho Textile Mills fiscal Q3 profit falls YOY

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.