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Sazgar Engineering Works fiscal Q2 profit climbs 28.9% YOY

Sazgar Engineering Works Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 80 Pakistani paisa per share, an increase of 28.9% from 62 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.3 million rupees, an increase of 28.9% from 13.4 million rupees in the prior-year period.

The normalized profit margin increased to 2.9% from 2.5% in the year-earlier period.

Total revenue increased 11.7% on an annual basis to 590.4 million rupees from 528.5 million rupees, and total operating expenses increased 11.0% on an annual basis to 560.4 million rupees from 504.9 million rupees.

Reported net income grew 68.7% from the prior-year period to 27.1 million rupees, or 1.26 rupees per share, from 16.1 million rupees, or 75 paisa per share.

As of Feb. 26, US$1 was equivalent to 101.85 Pakistani rupees.