Tata Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 1.70 Pakistani rupees per share, a decline of 58.1% from 4.06 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 29.5 million rupees, a decrease of 58.1% from 70.3 million rupees in the prior-year period.
The normalized profit margin dropped to 2.3% from 5.9% in the year-earlier period.
Total revenue rose 7.0% on an annual basis to 1.28 billion rupees from 1.20 billion rupees, and total operating expenses rose 17.8% year over year to 1.23 billion rupees from 1.04 billion rupees.
Reported net income declined 66.4% on an annual basis to 37.2 million rupees, or 2.15 rupees per share, from 110.6 million rupees, or 6.39 rupees per share.
As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.
