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Atlas Battery fiscal Q2 profit climbs 23.7% YOY

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Atlas Battery fiscal Q2 profit climbs 23.7% YOY

Atlas Battery Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 11.00 Pakistani rupees per share, a gain of 23.6% from 8.90 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 191.4 million rupees, a gain of 23.7% from 154.7 million rupees in the prior-year period.

The normalized profit margin climbed to 5.4% from 5.3% in the year-earlier period.

Total revenue climbed 22.7% on an annual basis to 3.55 billion rupees from 2.89 billion rupees, and total operating expenses grew 22.2% on an annual basis to 3.19 billion rupees from 2.61 billion rupees.

Reported net income grew 18.8% year over year to 208.5 million rupees, or 11.98 rupees per share, from 175.5 million rupees, or 10.09 rupees per share.

As of Feb. 23, US$1 was equivalent to 101.72 Pakistani rupees.