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Service Industries Q1 profit climbs 12.1% YOY

Service Industries Ltd. said its first-quarter normalized net income was 15.10 Pakistani rupees per share, an increase of 12.1% from 13.47 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 181.6 million rupees, an increase of 12.1% from 162.0 million rupees in the prior-year period.

The normalized profit margin rose to 4.3% from 4.2% in the year-earlier period.

Total revenue climbed 9.1% on an annual basis to 4.19 billion rupees from 3.84 billion rupees, and total operating expenses rose 8.7% on an annual basis to 3.81 billion rupees from 3.50 billion rupees.

Reported net income increased 11.9% on an annual basis to 212.1 million rupees, or 17.63 rupees per share, from 189.4 million rupees, or 15.75 rupees per share.

As of April 30, US$1 was equivalent to 101.69 Pakistani rupees.