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Telecard fiscal Q2 loss widens YOY

Telecard Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 12 Pakistani paisa per share, compared with a loss of 3 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 a loss of 35.2 million rupees, compared with a loss of 8.7 million rupees in the prior-year period.

The normalized profit margin fell to negative 5.3% from negative 1.4% in the year-earlier period.

Total revenue rose year over year to 657.9 million rupees from 628.6 million rupees, and total operating expenses climbed 15.2% from the prior-year period to 690.8 million rupees from 599.6 million rupees.

Reported net income came to 207.0 million rupees, or 69 paisa per share, compared to a loss of 6.8 million rupees, or a loss of 2 paisa per share, in the prior-year period.

As of March 2, US$1 was equivalent to 104.72 Pakistani rupees.