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Kohinoor Mills fiscal Q1 profit climbs 6.5% YOY

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Global M&A by the Numbers: Q1 2023

Kohinoor Mills fiscal Q1 profit climbs 6.5% YOY

Kohinoor Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 1.04 Pakistani rupees per share, an increase of 6.7% from 98 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 53.2 million rupees, a gain of 6.5% from 49.9 million rupees in the prior-year period.

The normalized profit margin fell to 2.5% from 2.5% in the year-earlier period.

Total revenue grew 7.8% year over year to 2.16 billion rupees from 2.00 billion rupees, and total operating expenses climbed 7.4% on an annual basis to 1.97 billion rupees from 1.83 billion rupees.

Reported net income grew 5.7% year over year to 63.7 million rupees, or 1.25 rupees per share, from 60.2 million rupees, or 1.18 rupees per share.

As of Nov. 10, US$1 was equivalent to 105.47 Pakistani rupees.