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Masood Textile Mills fiscal Q3 profit climbs 33.6% YOY

Masood Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 2.43 Pakistani rupees per share, an increase of 38.7% from 1.75 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 161.5 million rupees, an increase of 33.6% from 120.9 million rupees in the year-earlier period.

The normalized profit margin rose to 2.5% from 2.1% in the year-earlier period.

Total revenue grew 10.3% on an annual basis to 6.48 billion rupees from 5.88 billion rupees, and total operating expenses climbed 9.6% from the prior-year period to 5.97 billion rupees from 5.44 billion rupees.

Reported net income increased 52.2% year over year to 195.2 million rupees, or 2.94 rupees per share, from 128.3 million rupees, or 1.86 rupees per share.

As of April 28, US$1 was equivalent to 101.76 Pakistani rupees.