Prosperity Weaving Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 59 Pakistani paisa per share, a decrease of 51.4% from 1.21 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 10.9 million rupees, a decrease of 51.7% from 22.5 million rupees in the prior-year period.
The normalized profit margin dropped to 0.7% from 1.4% in the year-earlier period.
Total revenue fell 7.9% year over year to 1.48 billion rupees from 1.60 billion rupees, and total operating expenses fell 8.1% on an annual basis to 1.43 billion rupees from 1.55 billion rupees.
Reported net income decreased 34.7% year over year to 12.0 million rupees, or 65 paisa per share, from 18.4 million rupees, or 99 paisa per share.
As of April 30, US$1 was equivalent to 101.69 Pakistani rupees.
