Maqbool Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 1.10 Pakistani rupees per share, compared with a loss of 38 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 a loss of 18.4 million rupees, compared with a loss of 6.4 million rupees in the prior-year period.
The normalized profit margin fell to negative 1.9% from negative 0.5% in the year-earlier period.
Total revenue decreased 27.5% year over year to 994.1 million rupees from 1.37 billion rupees, and total operating expenses declined 26.1% on an annual basis to 987.0 million rupees from 1.34 billion rupees.
Reported net income came to a loss of 35.4 million rupees, or a loss of 2.11 rupees per share, compared to a loss of 17.5 million rupees, or a loss of 1.04 rupees per share, in the year-earlier period.
As of April 27, US$1 was equivalent to 101.84 Pakistani rupees.
