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Dewan Textile Mills fiscal Q3 loss narrows YOY

Dewan Textile Mills Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 1.70 Pakistani rupees per share, compared with a loss of 6.68 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 a loss of 78.4 million rupees, compared with a loss of 90.6 million rupees in the prior-year period.

Reported net income came to a loss of 120.0 million rupees, or a loss of 2.61 rupees per share, compared to a loss of 144.7 million rupees, or a loss of 10.68 rupees per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 104.80 Pakistani rupees.