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Olympia Mills fiscal Q3 loss narrows YOY

Olympia Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 2.16 Pakistani rupees per share, compared with a loss of 8.55 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 a loss of 25.9 million rupees, compared with a loss of 102.6 million rupees in the prior-year period.

Reported net income totaled a loss of 41.4 million rupees, or a loss of 3.45 rupees per share, compared to a loss of 169.7 million rupees, or a loss of 14.14 rupees per share, in the year-earlier period.

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