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Feroze1888 Mills fiscal Q3 profit climbs YOY

Feroze1888 Mills Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to 1.10 Pakistani rupees per share, a gain from 52 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 415.5 million rupees, a gain from 196.1 million rupees in the prior-year period.

The normalized profit margin rose to 9.5% from 4.4% in the year-earlier period.

Total revenue declined year over year to 4.35 billion rupees from 4.43 billion rupees, and total operating expenses decreased on an annual basis to 3.70 billion rupees from 3.76 billion rupees.

Reported net income increased on an annual basis to 618.5 million rupees, or 1.64 rupees per share, from 262.4 million rupees, or 70 paisa per share.

As of April 29, US$1 was equivalent to 101.72 Pakistani rupees.