Kohinoor Textile Mills Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 came to 1.64 Pakistani rupees per share, a gain of 32.8% from 1.23 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 462.7 million rupees, an increase of 33.1% from 347.6 million rupees in the prior-year period.

The normalized profit margin rose to 5.5% from 4.5% in the year-earlier period.

Total revenue grew 6.9% on an annual basis to 8.35 billion rupees from 7.81 billion rupees, and total operating expenses increased 6.4% from the prior-year period to 6.70 billion rupees from 6.29 billion rupees.

Reported net income declined 5.6% year over year to 555.6 million rupees, or 1.97 rupees per share, from 588.6 million rupees, or 2.09 rupees per share.

As of Oct. 29, US$1 was equivalent to 103.05 Pakistani rupees.