Kohinoor Spinning Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 16 Pakistani paisa per share, compared with a loss of 24 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 20.7 million rupees, compared with a loss of 31.3 million rupees in the prior-year period.
The normalized profit margin increased to 1.8% from negative 2.0% in the year-earlier period.
Total revenue fell 25.5% year over year to 1.14 billion rupees from 1.54 billion rupees, and total operating expenses decreased 30.7% year over year to 1.05 billion rupees from 1.52 billion rupees.
Reported net income came to 21.7 million rupees, or 17 paisa per share, compared to a loss of 65.4 million rupees, or a loss of 50 paisa per share, in the prior-year period.
As of Feb. 26, US$1 was equivalent to 104.59 Pakistani rupees.