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Olympia Mills swings to profit in fiscal Q3

Olympia Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 86 Pakistani paisa per share, compared with a loss of 2.16 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 10.3 million rupees, compared with a loss of 25.9 million rupees in the prior-year period.

Reported net income came to 16.5 million rupees, or 1.38 rupees per share, compared to a loss of 41.4 million rupees, or a loss of 3.45 rupees per share, in the prior-year period.

As of April 29, US$1 was equivalent to 104.80 Pakistani rupees.