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Kohinoor Textile Mills profit beats consensusin fiscal Q2

Kohinoor Textile Mills Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 2.11 Pakistani rupees per share, compared with the S&P Capital IQ consensus estimate of 82 paisa per share.

EPS increased 45.4% year over year from 1.45 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 595.9 million rupees, a gain of 45.6% from 409.3 million rupees in the prior-year period.

The normalized profit margin increased to 6.5% from 4.8% in the year-earlier period.

Total revenue grew 7.1% on an annual basis to 9.10 billion rupees from 8.50 billion rupees, and total operating expenses rose from the prior-year period to 7.08 billion rupees from 6.76 billion rupees.

Reported net income increased from the prior-year period to 896.1 million rupees, or 3.17 rupees per share, from 870.5 million rupees, or 3.09 rupees per share.

As of Feb. 20, US$1 was equivalent to 101.67 Pakistani rupees.