Ghani Value Glass Ltd said its normalized net income for the fiscal third quarter ended March 31 came to 25 Pakistani paisa per share, a decrease of 35.6% from 38 paisa per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.7 million rupees, a decrease of 34.6% from 7.2 million rupees in the prior-year period.
The normalized profit margin fell to 2.7% from 3.5% in the year-earlier period.
Total revenue declined 14.4% year over year to 173.1 million rupees from 202.3 million rupees, and total operating expenses decreased 13.2% year over year to 165.6 million rupees from 190.8 million rupees.
Reported net income fell 25.9% year over year to 5.1 million rupees, or 27 paisa per share, from 6.9 million rupees, or 37 paisa per share.
As of May 8, US$1 was equivalent to 101.71 Pakistani rupees.
