Tariq Glass Industries Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 81 Pakistani paisa per share, a gain from 4 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 59.7 million rupees, an increase from 2.6 million rupees in the year-earlier period.

The normalized profit margin rose to 3.0% from 0.1% in the year-earlier period.

Total revenue declined year over year to 2.00 billion rupees from 2.08 billion rupees, and total operating expenses declined 6.2% year over year to 1.82 billion rupees from 1.94 billion rupees.

Reported net income grew 62.0% from the prior-year period to 71.9 million rupees, or 98 paisa per share, from 44.4 million rupees, or 60 paisa per share.

As of Feb. 26, US$1 was equivalent to 104.59 Pakistani rupees.