trending Market Intelligence /marketintelligence/en/news-insights/trending/6DTIuZ8zNGJYGDvRe6J9Uw2 content esgSubNav
In This List

Reliance Cotton Spinning Mills fiscal Q1 profit falls YOY


Optimism abounds in Indian online video industry


2022 broadband forecast shifts to market share battle with intense competition


Expand Your Perspective: Innovation


Next in Tech | Episode 64: Digital infrastructure – towers and datacenters unite! Sort of...

Reliance Cotton Spinning Mills fiscal Q1 profit falls YOY

Reliance Cotton Spinning Mills Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 was 2.73 Pakistani rupees per share, a decline of 48.9% from 5.33 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 28.1 million rupees, a decrease of 48.8% from 54.9 million rupees in the year-earlier period.

The normalized profit margin declined to 3.5% from 4.9% in the year-earlier period.

Total revenue fell 27.2% on an annual basis to 810.6 million rupees from 1.11 billion rupees, and total operating expenses decreased 23.1% from the prior-year period to 758.7 million rupees from 986.5 million rupees.

Reported net income declined 51.2% from the prior-year period to 37.5 million rupees, or 3.64 rupees per share, from 76.8 million rupees, or 7.46 rupees per share.

As of Oct. 30, US$1 was equivalent to 105.51 Pakistani rupees.