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Mahmood Textile Mills fiscal Q1 profit climbs YOY

Mahmood Textile Mills Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 was 5.46 Pakistani rupees per share, an increase from 1.88 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 82.0 million rupees, a gain from 28.3 million rupees in the prior-year period.

The normalized profit margin climbed to 2.4% from 0.9% in the year-earlier period.

Total revenue increased year over year to 3.39 billion rupees from 3.30 billion rupees, and total operating expenses totaled 3.18 billion rupees, compared with 3.15 billion rupees in the year-earlier period.

Reported net income grew on an annual basis to 86.9 million rupees, or 5.79 rupees per share, from 11.3 million rupees, or 75 paisa per share.

As of Oct. 29, US$1 was equivalent to 105.30 Pakistani rupees.