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.