Artistic Denim Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1.20 Pakistani rupees per share, an increase of 24.4% from 97 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 101.4 million rupees, an increase of 25.0% from 81.1 million rupees in the year-earlier period.
The normalized profit margin rose to 6.2% from 4.6% in the year-earlier period.
Total revenue decreased 7.2% year over year to 1.64 billion rupees from 1.77 billion rupees, and total operating expenses declined 9.2% year over year to 1.47 billion rupees from 1.62 billion rupees.
Reported net income increased 14.2% on an annual basis to 161.6 million rupees, or 1.92 rupees per share, from 141.6 million rupees, or 1.69 rupees per share.
As of April 27, US$1 was equivalent to 101.84 Pakistani rupees.
