General Tyre & Rubber Co. of Pakistan Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 92 Pakistani paisa per share, a gain of 61.6% from 57 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 55.1 million rupees, an increase of 61.4% from 34.1 million rupees in the year-earlier period.
The normalized profit margin climbed to 3.0% from 1.9% in the year-earlier period.
Total revenue increased year over year to 1.82 billion rupees from 1.78 billion rupees, and total operating expenses totaled 1.65 billion rupees, compared with 1.65 billion rupees in the year-earlier period.
Reported net income grew 58.1% year over year to 56.7 million rupees, or 95 paisa per share, from 35.8 million rupees, or 60 paisa per share.
As of Oct. 28, US$1 was equivalent to 103.05 Pakistani rupees.
