Towellers Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 10.83 Pakistani rupees per share, an increase from 1.48 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 184.1 million rupees, a gain from 25.1 million rupees in the year-earlier period.
The normalized profit margin increased to 3.9% from 2.7% in the year-earlier period.
Total revenue fell 14.8% year over year to 788.8 million rupees from 925.7 million rupees, and total operating expenses fell 14.0% from the prior-year period to 754.3 million rupees from 877.2 million rupees.
Reported net income rose year over year to 287.2 million rupees, or 16.89 rupees per share, from 31.8 million rupees, or 1.87 rupees per share.
As of Oct. 28, US$1 was equivalent to 103.05 Pakistani rupees.
