Shams Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 51 Pakistani paisa per share, compared with a loss of 3.00 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.3 million rupees, compared with a loss of 26.0 million rupees in the prior-year period.
The normalized profit margin climbed to 0.5% from negative 2.9% in the year-earlier period.
Total revenue fell 8.1% year over year to 826.4 million rupees from 898.8 million rupees, and total operating expenses fell 12.4% on an annual basis to 801.8 million rupees from 914.9 million rupees.
Reported net income totaled a loss of 2.7 million rupees, or a loss of 31 paisa per share, compared to a loss of 50.6 million rupees, or a loss of 5.86 rupees per share, in the year-earlier period.
As of April 28, US$1 was equivalent to 101.76 Pakistani rupees.
