Ellcot Spinning Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 1.72 Pakistani rupees per share, a gain from 1.65 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 18.8 million rupees, a gain from 18.1 million rupees in the year-earlier period.
The normalized profit margin increased to 1.7% from 1.3% in the year-earlier period.
Total revenue fell 23.6% on an annual basis to 1.08 billion rupees from 1.41 billion rupees, and total operating expenses fell 23.7% year over year to 1.04 billion rupees from 1.36 billion rupees.
Reported net income decreased 21.8% year over year to 19.3 million rupees, or 1.76 rupees per share, from 24.6 million rupees, or 2.25 rupees per share.
As of May 1, US$1 was equivalent to 101.69 Pakistani rupees.
