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D.M. Textile Mills swings to loss in fiscal Q2

D.M. Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 9.04 Pakistani rupees per share, compared with 75 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 a loss of 27.6 million rupees, compared with income of 2.3 million rupees in the year-earlier period.

Reported net income came to a loss of 39.0 million rupees, or a loss of 12.76 rupees per share, compared to a loss of 2.4 million rupees, or a loss of 80 paisa per share, in the year-earlier period.

As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.