Nagina Cotton Mills Ltd said its normalized net income for the fiscal fourth quarter ended June 30 came to a loss of 2.05 Pakistani rupees per share, compared with a loss of 1.70 rupees 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 38.3 million rupees, compared with a loss of 31.8 million rupees in the prior-year period.

The normalized profit margin increased to negative 3.3% from negative 3.6% in the year-earlier period.

Total revenue increased 31.5% on an annual basis to 1.15 billion rupees from 878.0 million rupees, and total operating expenses climbed 30.5% from the prior-year period to 1.20 billion rupees from 922.1 million rupees.

Reported net income totaled a loss of 33.7 million rupees, or a loss of 1.80 rupees per share, compared to a loss of 12.7 million rupees, or a loss of 68 paisa per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 2.83 rupees per share, compared with 4.10 rupees per share in the prior year.

Normalized net income was a loss of 53.0 million rupees, compared with income of 76.6 million rupees in the prior year.

Full-year total revenue rose year over year to 4.27 billion rupees from 4.21 billion rupees, and total operating expenses increased 6.7% year over year to 4.29 billion rupees from 4.02 billion rupees.

The company said reported net income came to a loss of 92.9 million rupees, or a loss of 4.97 rupees per share, in the full year, compared with income of 133.7 million rupees, or 7.15 rupees per share, the prior year.

As of Oct. 7, US$1 was equivalent to 104.63 Pakistani rupees.