Zahidjee Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 22 Pakistani paisa per share, a decline of 72.2% from 81 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 43.0 million rupees, a decline of 27.6% from 59.4 million rupees in the year-earlier period.
The normalized profit margin dropped to 3.3% from 4.2% in the year-earlier period.
Total revenue fell 6.7% on an annual basis to 1.31 billion rupees from 1.40 billion rupees, and total operating expenses declined 5.5% on an annual basis to 1.22 billion rupees from 1.29 billion rupees.
Reported net income decreased 33.8% year over year to 53.6 million rupees, or 28 paisa per share, from 80.9 million rupees, or 1.10 rupees per share.
As of Nov. 28, US$1 was equivalent to 101.80 Pakistani rupees.
