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Media Times fiscal Q2 loss narrows YOY

Media Times Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 13 Pakistani paisa per share, compared with a loss of 19 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 24.5 million rupees, compared with a loss of 33.1 million rupees in the prior-year period.

The normalized profit margin increased to negative 24.5% from negative 42.5% in the year-earlier period.

Total revenue increased 24.4% on an annual basis to 97.0 million rupees from 77.9 million rupees, and total operating expenses climbed 5.0% year over year to 133.8 million rupees from 127.4 million rupees.

Reported net income came to a loss of 40.2 million rupees, or a loss of 22 paisa per share, compared to a loss of 53.6 million rupees, or a loss of 30 paisa per share, in the year-earlier period.

As of March 1, US$1 was equivalent to 104.72 Pakistani rupees.