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Tariq Glass Industries fiscal Q1 profit climbs YOY

Tariq Glass Industries Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 came to 1.52 Pakistani rupees per share, an increase from 1.46 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 111.5 million rupees, a gain from 106.8 million rupees in the year-earlier period.

The normalized profit margin rose to 5.4% from 5.2% in the year-earlier period.

Total revenue totaled 2.07 billion rupees, compared with 2.05 billion rupees in the prior-year period, and total operating expenses rose year over year to 1.81 billion rupees from 1.79 billion rupees.

Reported net income decreased 7.8% from the prior-year period to 164.0 million rupees, or 2.23 rupees per share, from 177.9 million rupees, or 2.43 rupees per share.

As of Nov. 2, US$1 was equivalent to 105.42 Pakistani rupees.