Mahmood Textile Mills Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 1.66 Pakistani rupees per share, a decrease of 77.4% from 7.34 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 24.5 million rupees, a decline of 77.8% from 110.1 million rupees in the year-earlier period.

The normalized profit margin fell to 0.7% from 2.9% in the year-earlier period.

Total revenue decreased 10.3% year over year to 3.36 billion rupees from 3.75 billion rupees, and total operating expenses fell 7.1% from the prior-year period to 3.21 billion rupees from 3.46 billion rupees.

Reported net income decreased 97.3% year over year to 3.4 million rupees, or 23 paisa per share, from 127.2 million rupees, or 8.48 rupees per share.

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