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Thal fiscal Q2 profit climbs 25.9% YOY

Thal Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 7.03 Pakistani rupees per share, a gain of 26.0% from 5.58 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 569.3 million rupees, an increase of 25.9% from 452.3 million rupees in the year-earlier period.

The normalized profit margin increased to 14.4% from 10.2% in the year-earlier period.

Total revenue fell 10.5% year over year to 3.95 billion rupees from 4.42 billion rupees, and total operating expenses declined 18.1% on an annual basis to 2.94 billion rupees from 3.59 billion rupees.

Reported net income grew 30.6% year over year to 685.9 million rupees, or 8.47 rupees per share, from 525.3 million rupees, or 6.48 rupees per share.

As of Feb. 26, US$1 was equivalent to 104.59 Pakistani rupees.