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Shams Textile Mills fiscal Q2 profit climbs 38.5% YOY

Shams Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 1.53 Pakistani rupees per share, a gain of 39.3% from 1.10 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.2 million rupees, an increase of 38.5% from 9.6 million rupees in the year-earlier period.

The normalized profit margin climbed to 1.3% from 0.9% in the year-earlier period.

Total revenue increased year over year to 1.04 billion rupees from 1.03 billion rupees, and total operating expenses totaled 1.00 billion rupees, compared with 996.0 million rupees in the prior-year period.

Reported net income increased on an annual basis to 11.9 million rupees, or 1.37 rupees per share, from 5.0 million rupees, or 58 paisa per share.

As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.