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Olympia Mills fiscal Q2 loss narrows YOY

Olympia Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 2.83 Pakistani rupees per share, compared with a loss of 4.48 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 a loss of 34.0 million rupees, compared with a loss of 53.8 million rupees in the prior-year period.

Reported net income totaled a loss of 54.3 million rupees, or a loss of 4.53 rupees per share, compared to a loss of 93.5 million rupees, or a loss of 7.79 rupees per share, in the year-earlier period.

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