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Din Textile Mills swings to profit in fiscal Q3

Din Textile Mills Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to 2.12 Pakistani rupees per share, compared with a loss of 2.08 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 47.5 million rupees, compared with a loss of 46.5 million rupees in the prior-year period.

The normalized profit margin climbed to 2.3% from negative 2.4% in the year-earlier period.

Total revenue grew on an annual basis to 2.05 billion rupees from 1.96 billion rupees, and total operating expenses decreased year over year to 1.90 billion rupees from 1.95 billion rupees.

Reported net income came to 40.4 million rupees, or 1.80 rupees per share, compared to a loss of 77.2 million rupees, or a loss of 3.45 rupees per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 104.81 Pakistani rupees.