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Shadab Textile Mills fiscal Q3 profit climbs YOY

Shadab Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 2.87 Pakistani rupees per share, a gain from 72 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 8.6 million rupees, an increase from 2.1 million rupees in the year-earlier period.

The normalized profit margin climbed to 1.8% from 0.4% in the year-earlier period.

Total revenue decreased 13.8% on an annual basis to 465.6 million rupees from 540.1 million rupees, and total operating expenses decreased 15.1% year over year to 447.9 million rupees from 527.4 million rupees.

Reported net income rose 97.4% on an annual basis to 9.3 million rupees, or 3.11 rupees per share, from 4.7 million rupees, or 1.58 rupees per share.

As of April 30, US$1 was equivalent to 101.69 Pakistani rupees.