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Quice Food Industries fiscal Q2 loss widens YOY

Quice Food Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 19 Pakistani paisa per share, compared with a loss of 7 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 15.3 million rupees, compared with a loss of 3.3 million rupees in the prior-year period.

The normalized profit margin fell to negative 271.9% from negative 59.9% in the year-earlier period.

Total revenue climbed on an annual basis to 5.6 million rupees from 5.5 million rupees, and total operating expenses grew from the prior-year period to 30.1 million rupees from 10.6 million rupees.

Reported net income came to a loss of 24.5 million rupees, or a loss of 31 paisa per share, compared to a loss of 5.3 million rupees, or a loss of 10 paisa per share, in the prior-year period.

As of Feb. 25, US$1 was equivalent to 101.86 Pakistani rupees.