JK Spinning Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 15 Pakistani paisa per share, a decrease of 88.5% from 1.30 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 9.2 million rupees, a decline of 88.3% from 79.0 million rupees in the prior-year period.
The normalized profit margin declined to 0.4% from 3.3% in the year-earlier period.
Total revenue fell year over year to 2.35 billion rupees from 2.38 billion rupees, and total operating expenses rose on an annual basis to 2.29 billion rupees from 2.19 billion rupees.
Reported net income fell 88.3% from the prior-year period to 11.7 million rupees, or 19 paisa per share, from 100.4 million rupees, or 1.65 rupees per share.
As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.
