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Crescent Fibres fiscal Q2 profit falls YOY

Crescent Fibres Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 3.07 Pakistani rupees per share, a decline of 14.0% from 3.57 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 38.1 million rupees, a decline of 14.0% from 44.3 million rupees in the year-earlier period.

The normalized profit margin declined to 4.7% from 4.9% in the year-earlier period.

Total revenue fell 8.9% year over year to 818.1 million rupees from 898.5 million rupees, and total operating expenses fell 8.0% year over year to 745.5 million rupees from 810.0 million rupees.

Reported net income increased 30.6% on an annual basis to 67.4 million rupees, or 5.43 rupees per share, from 51.6 million rupees, or 4.16 rupees per share.

As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.