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Zahidjee Textile Mills fiscal Q3 profit falls YOY

Zahidjee Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 35 Pakistani paisa per share, a decline from 36 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 67.4 million rupees, a decline from 69.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.7% from 3.7% in the year-earlier period.

Total revenue fell year over year to 1.83 billion rupees from 1.88 billion rupees, and total operating expenses fell from the prior-year period to 1.68 billion rupees from 1.71 billion rupees.

Reported net income decreased 7.3% year over year to 103.8 million rupees, or 55 paisa per share, from 112.0 million rupees, or 59 paisa per share.

As of May 2, US$1 was equivalent to 104.78 Pakistani rupees.