Janana De Malucho Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 2.63 Pakistani rupees per share, an increase of 17.0% from 2.25 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 12.6 million rupees, a gain of 16.9% from 10.8 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.1% from 1.4% in the year-earlier period.

Total revenue fell 25.7% year over year to 587.9 million rupees from 791.8 million rupees, and total operating expenses declined 26.4% from the prior-year period to 556.2 million rupees from 756.2 million rupees.

Reported net income declined 19.7% year over year to 15.1 million rupees, or 3.15 rupees per share, from 18.8 million rupees, or 3.92 rupees per share.

As of April 29, US$1 was equivalent to 104.80 Pakistani rupees.