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Thal Industries fiscal Q1 profit falls YOY

Thal Industries Corp. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 88 Pakistani paisa per share, a decline of 85.9% from 6.22 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 13.2 million rupees, a decrease of 85.9% from 93.4 million rupees in the year-earlier period.

The normalized profit margin declined to 1.0% from 4.4% in the year-earlier period.

Total revenue declined 34.0% year over year to 1.38 billion rupees from 2.10 billion rupees, and total operating expenses fell 28.8% year over year to 1.32 billion rupees from 1.86 billion rupees.

Reported net income declined 92.7% from the prior-year period to 7.2 million rupees, or 48 paisa per share, from 98.6 million rupees, or 6.57 rupees per share.

As of Feb. 3, US$1 was equivalent to 104.78 Pakistani rupees.