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Habib-ADM fiscal Q2 profit falls YOY

Habib-ADM Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 67 Pakistani paisa per share, a decline of 23.9% from 88 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.8 million rupees, a decrease of 23.7% from 35.1 million rupees in the prior-year period.

The normalized profit margin fell to 9.2% from 10.2% in the year-earlier period.

Total revenue decreased 15.2% on an annual basis to 290.3 million rupees from 342.3 million rupees, and total operating expenses decreased 16.1% from the prior-year period to 247.3 million rupees from 294.8 million rupees.

Reported net income fell 14.9% on an annual basis to 36.0 million rupees, or 90 paisa per share, from 42.4 million rupees, or 1.06 rupees per share.

As of Feb. 10, US$1 was equivalent to 101.38 Pakistani rupees.