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Zephyr Textiles fiscal Q3 profit climbs YOY

Zephyr Textiles Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 32 Pakistani paisa per share, a gain from 9 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 19.2 million rupees, an increase from 5.4 million rupees in the year-earlier period.

The normalized profit margin rose to 2.1% from 0.5% in the year-earlier period.

Total revenue fell 8.6% year over year to 910.4 million rupees from 995.8 million rupees, and total operating expenses fell 10.4% year over year to 841.7 million rupees from 939.5 million rupees.

Reported net income rose on an annual basis to 25.6 million rupees, or 43 paisa per share, from 6.7 million rupees, or 11 paisa per share.

As of June 25, US$1 was equivalent to 101.72 Pakistani rupees.