Bannu Woollen Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 13 Pakistani paisa per share, compared with a loss of 27 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 1.3 million rupees, compared with a loss of 2.9 million rupees in the prior-year period.

The normalized profit margin increased to 1.5% from negative 3.7% in the year-earlier period.

Total revenue climbed 12.5% year over year to 86.6 million rupees from 77.0 million rupees, and total operating expenses increased from the prior-year period to 84.2 million rupees from 80.9 million rupees.

Reported net income totaled 502,000 rupees, or 5 paisa per share, compared to a loss of 423,000 rupees, or a loss of 4 paisa per share, in the prior-year period.

As of April 29, US$1 was equivalent to 104.80 Pakistani rupees.