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Ghandhara Nissan fiscal Q3 profit climbs 8.8% YOY

Ghandhara Nissan Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to 4.78 Pakistani rupees per share, an increase of 9.0% from 4.39 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 215.1 million rupees, a gain of 8.8% from 197.6 million rupees in the year-earlier period.

The normalized profit margin rose to 12.0% from 10.4% in the year-earlier period.

Total revenue decreased 5.9% on an annual basis to 1.79 billion rupees from 1.90 billion rupees, and total operating expenses decreased year over year to 1.49 billion rupees from 1.57 billion rupees.

Reported net income increased 16.6% on an annual basis to 247.4 million rupees, or 5.50 rupees per share, from 212.1 million rupees, or 4.71 rupees per share.

As of May 3, US$1 was equivalent to 104.78 Pakistani rupees.