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Leiner Pak Gelatine swings to profit in fiscal Q2

Leiner Pak Gelatine Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 98 Pakistani paisa per share, compared with a loss of 48 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.3 million rupees, compared with a loss of 3.6 million rupees in the prior-year period.

The normalized profit margin climbed to 4.9% from negative 6.2% in the year-earlier period.

Total revenue increased on an annual basis to 150.6 million rupees from 58.1 million rupees, and total operating expenses rose from the prior-year period to 136.5 million rupees from 62.0 million rupees.

Reported net income totaled 8.2 million rupees, or 1.09 rupees per share, compared to a loss of 6.8 million rupees, or a loss of 91 paisa per share, in the prior-year period.

As of Feb. 26, US$1 was equivalent to 101.85 Pakistani rupees.