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Bhanero Textile Mills fiscal Q3 profit climbs 25.4% YOY

Bhanero Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 20.04 Pakistani rupees per share, an increase of 25.4% from 15.98 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 60.1 million rupees, a gain of 25.4% from 47.9 million rupees in the prior-year period.

The normalized profit margin increased to 3.5% from 2.7% in the year-earlier period.

Total revenue declined 5.8% year over year to 1.69 billion rupees from 1.80 billion rupees, and total operating expenses decreased 6.8% year over year to 1.58 billion rupees from 1.69 billion rupees.

Reported net income increased 34.9% year over year to 79.2 million rupees, or 26.42 rupees per share, from 58.7 million rupees, or 19.58 rupees per share.

As of June 17, US$1 was equivalent to 104.66 Pakistani rupees.