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Ghani Value Glass fiscal Q3 profit falls YOY

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Ghani Value Glass fiscal Q3 profit falls YOY

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.