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.
