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Ghandhara Industries fiscal Q1 profit climbs YOY

Ghandhara Industries Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 came to 5.20 Pakistani rupees per share, a gain from 1.24 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 110.6 million rupees, a gain from 26.5 million rupees in the prior-year period.

The normalized profit margin climbed to 11.7% from 3.4% in the year-earlier period.

Total revenue grew 19.5% on an annual basis to 942.7 million rupees from 789.0 million rupees, and total operating expenses grew 6.2% year over year to 747.8 million rupees from 704.3 million rupees.

Reported net income rose from the prior-year period to 126.2 million rupees, or 5.93 rupees per share, from 24.6 million rupees, or 1.15 rupees per share.

As of Nov. 3, US$1 was equivalent to 105.42 Pakistani rupees.