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Din Textile Mills fiscal Q3 loss narrows YOY

Din Textile Mills Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 2.08 Pakistani rupees per share, compared with a loss of 3.78 rupees 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 46.5 million rupees, compared with a loss of 84.7 million rupees in the year-earlier period.

The normalized profit margin rose to negative 2.4% from negative 2.5% in the year-earlier period.

Total revenue fell 40.9% on an annual basis to 1.96 billion rupees from 3.32 billion rupees, and total operating expenses decreased 41.8% from the prior-year period to 1.95 billion rupees from 3.34 billion rupees.

Reported net income came to a loss of 77.2 million rupees, or a loss of 3.45 rupees per share, compared to a loss of 156.2 million rupees, or a loss of 6.96 rupees per share, in the prior-year period.

As of April 28, US$1 was equivalent to 101.76 Pakistani rupees.