Premium Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 6.49 Pakistani rupees per share, a decline of 43.4% from 11.48 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 40.0 million rupees, a decline of 43.4% from 70.7 million rupees in the prior-year period.
The normalized profit margin fell to 2.5% from 4.0% in the year-earlier period.
Total revenue fell 8.8% on an annual basis to 1.63 billion rupees from 1.78 billion rupees, and total operating expenses decreased 6.3% on an annual basis to 1.50 billion rupees from 1.60 billion rupees.
Reported net income decreased 31.7% on an annual basis to 47.5 million rupees, or 7.71 rupees per share, from 69.6 million rupees, or 11.29 rupees per share.
As of March 27, US$1 was equivalent to 101.88 Pakistani rupees.
