Towellers Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 2.26 Pakistani rupees per share, a decline from 2.34 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 38.5 million rupees, a decline from 39.7 million rupees in the prior-year period.
The normalized profit margin increased to 5.0% from 4.2% in the year-earlier period.
Total revenue declined 19.2% year over year to 769.3 million rupees from 952.5 million rupees, and total operating expenses decreased 21.0% year over year to 698.2 million rupees from 883.3 million rupees.
Reported net income rose on an annual basis to 52.8 million rupees, or 3.10 rupees per share, from 51.5 million rupees, or 3.03 rupees per share.
As of Feb. 25, US$1 was equivalent to 101.86 Pakistani rupees.
