Reliance Weaving Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 91 Pakistani paisa per share, a decrease of 11.2% from 1.02 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.1 million rupees, a decrease of 13.8% from 31.4 million rupees in the prior-year period.
The normalized profit margin declined to 0.9% from 1.0% in the year-earlier period.
Total revenue decreased 7.4% on an annual basis to 2.99 billion rupees from 3.23 billion rupees, and total operating expenses fell 9.4% year over year to 2.76 billion rupees from 3.05 billion rupees.
Reported net income declined 25.1% year over year to 13.1 million rupees, or 44 paisa per share, from 17.5 million rupees, or 57 paisa per share.
As of May 5, US$1 was equivalent to 101.75 Pakistani rupees.
