trending Market Intelligence /marketintelligence/en/news-insights/trending/D88zW-pPQjvM-0KdXBcK5Q2 content esgSubNav
In This List

Redco Textiles swings to loss in fiscal Q2

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Redco Textiles swings to loss in fiscal Q2

Redco Textiles Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 21 Pakistani paisa per share, compared with 33 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 10.4 million rupees, compared with income of 16.3 million rupees in the prior-year period.

The normalized profit margin fell to negative 2.4% from 2.8% in the year-earlier period.

Total revenue declined 24.4% on an annual basis to 438.3 million rupees from 580.1 million rupees, and total operating expenses declined 18.7% on an annual basis to 448.2 million rupees from 551.2 million rupees.

Reported net income came to a loss of 22.4 million rupees, or a loss of 46 paisa per share, compared to income of 19.7 million rupees, or 40 paisa per share, in the year-earlier period.

As of March 9, US$1 was equivalent to 101.64 Pakistani rupees.