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Chenab fiscal Q2 loss widens 10.1% YOY

Chenab Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 55 Pakistani paisa per share, compared with a loss of 50 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 63.4 million rupees, compared with a loss of 57.6 million rupees in the year-earlier period.

The normalized profit margin fell to negative 12.2% from negative 11.4% in the year-earlier period.

Total revenue climbed on an annual basis to 519.8 million rupees from 505.2 million rupees, and total operating expenses decreased 12.4% on an annual basis to 603.1 million rupees from 688.7 million rupees.

Reported net income came to a loss of 109.2 million rupees, or a loss of 95 paisa per share, compared to a loss of 92.3 million rupees, or a loss of 80 paisa per share, in the prior-year period.

As of March 20, US$1 was equivalent to 102.10 Pakistani rupees.