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Al Shaheer fiscal Q3 profit climbs 51.1% YOY

Al Shaheer Corp. Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 40 Pakistani paisa per share, an increase of 9.8% from 37 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 57.4 million rupees, an increase of 51.1% from 38.0 million rupees in the prior-year period.

The normalized profit margin climbed to 3.5% from 3.2% in the year-earlier period.

Total revenue rose 38.1% on an annual basis to 1.66 billion rupees from 1.20 billion rupees, and total operating expenses climbed 42.1% year over year to 1.59 billion rupees from 1.12 billion rupees.

Reported net income grew 48.2% from the prior-year period to 94.5 million rupees, or 67 paisa per share, from 63.8 million rupees, or 62 paisa per share.

As of April 29, US$1 was equivalent to 104.80 Pakistani rupees.