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Treet fiscal Q2 profit falls YOY

Treet Corp. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 18 Pakistani paisa per share, a decline of 82.2% from 1.02 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.5 million rupees, a decline of 82.5% from 60.2 million rupees in the year-earlier period.

The normalized profit margin declined to negative 0.2% from 3.6% in the year-earlier period.

Total revenue increased year over year to 1.74 billion rupees from 1.68 billion rupees, and total operating expenses grew on an annual basis to 1.69 billion rupees from 1.66 billion rupees.

Reported net income declined 79.3% year over year to 18.4 million rupees, or 32 paisa per share, from 89.1 million rupees, or 1.51 rupees per share.

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