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Janana De Malucho Textile Mills fiscal Q3 profit climbs 16.9% YOY

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.