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Habib-ADM fiscal Q3 profit falls YOY

Habib-ADM Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 50 Pakistani paisa per share, a decrease of 33.7% from 75 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.1 million rupees, a decrease of 33.0% from 30.0 million rupees in the year-earlier period.

The normalized profit margin increased to 8.4% from 8.1% in the year-earlier period.

Total revenue declined 35.2% on an annual basis to 239.9 million rupees from 370.2 million rupees, and total operating expenses fell 37.7% year over year to 207.6 million rupees from 333.1 million rupees.

Reported net income fell 29.6% from the prior-year period to 24.1 million rupees, or 60 paisa per share, from 34.3 million rupees, or 86 paisa per share.

As of April 10, US$1 was equivalent to 101.83 Pakistani rupees.