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Sunrays Textile Mills fiscal Q3 profit climbs 7.6% YOY

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Sunrays Textile Mills fiscal Q3 profit climbs 7.6% YOY

Sunrays Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 4.82 Pakistani rupees per share, an increase of 7.5% from 4.49 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 33.3 million rupees, an increase of 7.6% from 31.0 million rupees in the year-earlier period.

The normalized profit margin rose to 3.4% from 2.4% in the year-earlier period.

Total revenue fell 24.1% year over year to 980.0 million rupees from 1.29 billion rupees, and total operating expenses declined 25.3% on an annual basis to 925.8 million rupees from 1.24 billion rupees.

Reported net income totaled 42.3 million rupees, or 6.13 rupees per share, compared to 42.1 million rupees, or 6.10 rupees per share, in the prior-year period.

As of May 5, US$1 was equivalent to 101.75 Pakistani rupees.