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Pakistan Services fiscal Q3 profit climbs YOY

Pakistan Services Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 18.79 Pakistani rupees per share, an increase from 7.29 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 611.1 million rupees, an increase from 237.0 million rupees in the prior-year period.

The normalized profit margin increased to 24.3% from 10.5% in the year-earlier period.

Total revenue climbed 11.4% year over year to 2.51 billion rupees from 2.26 billion rupees, and total operating expenses climbed from the prior-year period to 1.79 billion rupees from 1.71 billion rupees.

Reported net income rose year over year to 695.4 million rupees, or 21.38 rupees per share, from 190.5 million rupees, or 5.86 rupees per share.

As of April 29, US$1 was equivalent to 104.80 Pakistani rupees.