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Amtex fiscal Q2 loss narrows YOY

Amtex Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to a loss of 22 Pakistani paisa per share, compared with a loss of 56 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 a loss of 57.9 million rupees, compared with a loss of 144.5 million rupees in the year-earlier period.

The normalized profit margin rose to negative 9.1% from negative 23.6% in the year-earlier period.

Total revenue rose year over year to 637.9 million rupees from 611.5 million rupees, and total operating expenses declined 14.3% year over year to 682.8 million rupees from 796.5 million rupees.

Reported net income totaled a loss of 103.6 million rupees, or a loss of 40 paisa per share, compared to a loss of 238.4 million rupees, or a loss of 92 paisa per share, in the year-earlier period.

As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.