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Treet fiscal Q3 profit climbs 14.2% YOY

Treet Corp. Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 82 Pakistani paisa per share, a decrease of 59.1% from 2.00 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 48.5 million rupees, a gain of 14.2% from 42.4 million rupees in the prior-year period.

The normalized profit margin rose to 2.7% from 2.5% in the year-earlier period.

Total revenue increased year over year to 1.76 billion rupees from 1.72 billion rupees, and total operating expenses increased on an annual basis to 1.61 billion rupees from 1.57 billion rupees.

Reported net income grew 20.0% on an annual basis to 64.7 million rupees, or 1.09 rupees per share, from 53.9 million rupees, or 2.54 rupees per share.

As of April 29, US$1 was equivalent to 101.72 Pakistani rupees.