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Chenab fiscal Q1 loss widens YOY

Chenab Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 came to a loss of 66 Pakistani paisa per share, compared with a loss of 63 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 75.4 million rupees, compared with a loss of 72.1 million rupees in the prior-year period.

The normalized profit margin declined to negative 16.7% from negative 13.7% in the year-earlier period.

Total revenue decreased 14.3% year over year to 452.2 million rupees from 527.8 million rupees, and total operating expenses fell 12.2% year over year to 540.7 million rupees from 615.8 million rupees.

Reported net income came to a loss of 122.1 million rupees, or a loss of 1.06 rupees per share, compared to a loss of 117.6 million rupees, or a loss of 1.02 rupees per share, in the prior-year period.

As of Oct. 30, US$1 was equivalent to 105.51 Pakistani rupees.