trending Market Intelligence /marketintelligence/en/news-insights/trending/GpJWU0HkylnHYvgQunLFpQ2 content esgSubNav
In This List

Redco Textiles fiscal Q3 profit falls YOY

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Redco Textiles fiscal Q3 profit falls YOY

Redco Textiles Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 4 Pakistani paisa per share, a decrease of 54.0% from 8 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.9 million rupees, a decrease of 46.0% from 3.4 million rupees in the year-earlier period.

The normalized profit margin declined to 0.4% from 0.6% in the year-earlier period.

Total revenue declined 22.0% year over year to 454.3 million rupees from 582.4 million rupees, and total operating expenses fell 22.5% from the prior-year period to 443.9 million rupees from 573.0 million rupees.

Reported net income totaled a loss of 32,980 rupees, or a loss of 0 paisa per share, compared to income of 125,870 rupees, or 0 paisa per share, in the prior-year period.

As of June 9, US$1 was equivalent to 101.88 Pakistani rupees.