Premium Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 2.27 Pakistani rupees per share, a decrease of 80.9% from 11.84 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 14.0 million rupees, a decrease of 80.9% from 73.0 million rupees in the prior-year period.
The normalized profit margin declined to 0.8% from 4.3% in the year-earlier period.
Total revenue rose year over year to 1.72 billion rupees from 1.69 billion rupees, and total operating expenses increased 8.5% year over year to 1.65 billion rupees from 1.52 billion rupees.
Reported net income declined 95.1% year over year to 4.8 million rupees, or 78 paisa per share, from 99.5 million rupees, or 16.14 rupees per share.
As of Oct. 30, US$1 was equivalent to 103.05 Pakistani rupees.