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Unity Foods swings to loss in fiscal Q2

Unity Foods Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to a loss of 1 Pakistani paisa per share, compared with 3 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 57,880 rupees, compared with income of 119,420 rupees in the year-earlier period.

Reported net income came to a loss of 35,320 rupees, or a loss of 1 paisa per share, compared to income of 191,070 rupees, or 5 paisa per share, in the prior-year period.

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