Ghani Automobile Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of 3 Pakistani paisa per share, compared with a loss of 2 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 a loss of 1.7 million rupees, compared with a loss of 810,730 rupees in the prior-year period.
The normalized profit margin declined to negative 3.6% from negative 2.5% in the year-earlier period.
Total revenue rose 42.9% on an annual basis to 47.2 million rupees from 33.0 million rupees, and total operating expenses climbed 35.8% from the prior-year period to 43.0 million rupees from 31.6 million rupees.
Reported net income came to a loss of 2.7 million rupees, or a loss of 5 paisa per share, compared to a loss of 1.3 million rupees, or a loss of 3 paisa per share, in the prior-year period.
As of Nov. 28, US$1 was equivalent to 101.80 Pakistani rupees.
