Janana De Malucho Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of 1.33 Pakistani rupees per share, compared with 5.86 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 a loss of 6.4 million rupees, compared with income of 28.0 million rupees in the prior-year period.
The normalized profit margin dropped to negative 1.3% from 4.4% in the year-earlier period.
Total revenue decreased 22.2% on an annual basis to 496.5 million rupees from 638.4 million rupees, and total operating expenses decreased 14.6% year over year to 493.2 million rupees from 577.7 million rupees.
Reported net income totaled a loss of 15.2 million rupees, or a loss of 3.17 rupees per share, compared to income of 28.9 million rupees, or 6.04 rupees per share, in the year-earlier period.
As of Oct. 23, US$1 was equivalent to 104.42 Pakistani rupees.