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Jubilee Spinning & Weaving Mills swings to profit in fiscal Q1

Jubilee Spinning & Weaving Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 24 Pakistani paisa per share, compared with a loss of 24 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 7.6 million rupees, compared with a loss of 7.7 million rupees in the year-earlier period.

The normalized profit margin was 149.7%.

Total revenue rose year over year to 5.1 million rupees from 1.0 million rupees.

Reported net income totaled 12.2 million rupees, or 38 paisa per share, compared to a loss of 12.4 million rupees, or a loss of 38 paisa per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 105.42 Pakistani rupees.