Bhanero Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 8.32 Pakistani rupees per share, a decline of 77.9% from 37.59 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 25.0 million rupees, a decline of 77.9% from 112.8 million rupees in the year-earlier period.
The normalized profit margin dropped to 1.4% from 5.8% in the year-earlier period.
Total revenue fell 6.7% year over year to 1.81 billion rupees from 1.93 billion rupees, and total operating expenses came to 1.73 billion rupees, compared with 1.72 billion rupees in the year-earlier period.
Reported net income decreased 86.5% on an annual basis to 21.8 million rupees, or 7.27 rupees per share, from 161.1 million rupees, or 53.70 rupees per share.
As of March 6, US$1 was equivalent to 101.77 Pakistani rupees.
