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Kohat Textile Mills swings to loss in fiscal Q1

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MediaTalk | Season 2
Ep.1: Broadcast's Big Year


Global M&A by the Numbers Q4 2023

Kohat Textile Mills swings to loss in fiscal Q1

Kohat Textile Mills Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 came to a loss of 3 Pakistani paisa per share, compared with 1.28 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 a loss of 525,000 rupees, compared with income of 26.8 million rupees in the prior-year period.

The normalized profit margin declined to negative 0.1% from 3.8% in the year-earlier period.

Total revenue decreased 34.1% on an annual basis to 463.9 million rupees from 704.1 million rupees, and total operating expenses fell 30.0% year over year to 448.4 million rupees from 640.8 million rupees.

Reported net income came to a loss of 6.5 million rupees, or a loss of 31 paisa per share, compared to income of 21.3 million rupees, or 1.02 rupees per share, in the year-earlier period.

As of Oct. 30, US$1 was equivalent to 105.51 Pakistani rupees.