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Chenab fiscal Q1 loss narrows YOY

Chenab Ltd said its normalized net income for the fiscal first quarter ended Sept. 30, 2014, amounted to a loss of 63 Pakistani paisa per share, compared with a loss of 65 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 72.1 million rupees, compared with a loss of 75.2 million rupees in the year-earlier period.

The normalized profit margin fell to negative 13.7% from negative 13.6% in the year-earlier period.

Total revenue fell on an annual basis to 527.8 million rupees from 554.7 million rupees, and total operating expenses fell from the prior-year period to 615.8 million rupees from 639.6 million rupees.

Reported net income came to a loss of 117.6 million rupees, or a loss of 1.02 rupees per share, compared to a loss of 121.8 million rupees, or a loss of 1.06 rupees per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 101.42 Pakistani rupees.