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Sazgar Engineering Works profit holds relatively steady YOY in fiscal Q3

Sazgar Engineering Works Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1.09 Pakistani rupees per share, compared with 1.09 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 23.5 million rupees, compared with 23.4 million rupees in the prior-year period.

The normalized profit margin fell to 3.2% from 3.7% in the year-earlier period.

Total revenue climbed 16.6% year over year to 739.5 million rupees from 634.2 million rupees, and total operating expenses increased 17.7% from the prior-year period to 700.4 million rupees from 595.0 million rupees.

Reported net income increased from the prior-year period to 25.2 million rupees, or 1.17 rupees per share, from 24.3 million rupees, or 1.13 rupees per share.

As of April 30, US$1 was equivalent to 101.69 Pakistani rupees.