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Chenab fiscal Q2 loss widens 31.8% YOY

Chenab Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of 73 Pakistani paisa per share, compared with a loss of 55 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 a loss of 83.6 million rupees, compared with a loss of 63.4 million rupees in the prior-year period.

The normalized profit margin fell to negative 16.0% from negative 12.2% in the year-earlier period.

Total revenue came to 522.5 million rupees, compared with 519.8 million rupees in the prior-year period, and total operating expenses increased 6.2% year over year to 640.3 million rupees from 603.1 million rupees.

Reported net income came to a loss of 137.4 million rupees, or a loss of 1.20 rupees per share, compared to a loss of 109.2 million rupees, or a loss of 95 paisa per share, in the prior-year period.

As of March 4, US$1 was equivalent to 104.73 Pakistani rupees.