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Shakarganj fiscal Q2 profit climbs YOY

Shakarganj Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to 73 Pakistani paisa per share, a gain of 91.9% from 38 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 74.0 million rupees, an increase from 31.1 million rupees in the year-earlier period.

The normalized profit margin rose to 2.6% from 1.0% in the year-earlier period.

Total revenue declined 5.0% on an annual basis to 2.87 billion rupees from 3.02 billion rupees, and total operating expenses fell 8.1% from the prior-year period to 2.78 billion rupees from 3.03 billion rupees.

Reported net income totaled 95.8 million rupees, or 95 paisa per share, compared to a loss of 2.4 million rupees, or a loss of 3 paisa per share, in the prior-year period.

As of June 1, US$1 was equivalent to 104.76 Pakistani rupees.