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Blessed Textiles fiscal Q2 profit falls YOY

Blessed Textiles Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 3.06 Pakistani rupees per share, a decline of 68.1% from 9.61 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.7 million rupees, a decline of 68.1% from 61.8 million rupees in the prior-year period.

The normalized profit margin fell to 1.0% from 4.1% in the year-earlier period.

Total revenue rose 31.3% year over year to 1.97 billion rupees from 1.50 billion rupees, and total operating expenses climbed 39.0% on an annual basis to 1.86 billion rupees from 1.34 billion rupees.

Reported net income fell 85.6% from the prior-year period to 12.1 million rupees, or 1.88 rupees per share, from 83.9 million rupees, or 13.04 rupees per share.

As of March 6, US$1 was equivalent to 101.77 Pakistani rupees.