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Service Industries Q4 profit climbs 24.9% YOY

Service Industries Ltd. said its fourth-quarter normalized net income amounted to 17.34 Pakistani rupees per share, an increase of 24.9% from 13.88 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 208.5 million rupees, a gain of 24.9% from 166.9 million rupees in the year-earlier period.

The normalized profit margin rose to 4.3% from 3.8% in the year-earlier period.

Total revenue grew 9.6% year over year to 4.80 billion rupees from 4.38 billion rupees, and total operating expenses grew 6.5% year over year to 4.46 billion rupees from 4.19 billion rupees.

Reported net income increased 50.5% on an annual basis to 284.1 million rupees, or 23.62 rupees per share, from 188.8 million rupees, or 15.69 rupees per share.

For the year, the company's normalized net income totaled 77.70 rupees per share, an increase of 17.9% from 65.89 rupees per share in the prior year.

Normalized net income was 934.6 million rupees, a rise of 17.9% from 792.6 million rupees in the prior year.

Full-year total revenue rose 8.2% year over year to 18.98 billion rupees from 17.54 billion rupees, and total operating expenses grew 7.5% on an annual basis to 17.30 billion rupees from 16.10 billion rupees.

The company said reported net income rose 31.6% on an annual basis to 1.24 billion rupees, or 103.45 rupees per share, in the full year, from 945.8 million rupees, or 78.63 rupees per share.

As of April 7, US$1 was equivalent to 104.83 Pakistani rupees.