Philip Morris (Pakistan) Ltd. said its normalized net income for the first quarter amounted to 4.45 Pakistani rupees per share, compared with a loss of 2.39 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 274.1 million rupees, compared with a loss of 147.5 million rupees in the year-earlier period.
The normalized profit margin increased to 6.3% from negative 4.5% in the year-earlier period.
Total revenue climbed 25.0% year over year to 4.12 billion rupees from 3.29 billion rupees, and total operating expenses grew year over year to 3.48 billion rupees from 3.40 billion rupees.
Reported net income totaled a loss of 17.5 million rupees, or a loss of 28 paisa per share, compared to a loss of 269.8 million rupees, or a loss of 4.38 rupees per share, in the year-earlier period.
As of April 30, US$1 was equivalent to 101.69 Pakistani rupees.
