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Jubilee Spinning & Weaving Mills swings to profit in fiscal Q3

Jubilee Spinning & Weaving Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 44 Pakistani paisa per share, compared with a loss of 23 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 14.1 million rupees, compared with a loss of 7.4 million rupees in the prior-year period.

The normalized profit margin climbed to 430.9% from negative 6.3% in the year-earlier period.

Total revenue totaled 3.3 million rupees.

Reported net income totaled 22.6 million rupees, or 70 paisa per share, compared to a loss of 12.7 million rupees, or a loss of 39 paisa per share, in the prior-year period.

As of July 9, US$1 was equivalent to 101.70 Pakistani rupees.