Reliance Cotton Spinning Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 4.22 Pakistani rupees per share, a decrease of 6.6% from 4.52 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 43.5 million rupees, a decline of 6.5% from 46.5 million rupees in the year-earlier period.
The normalized profit margin rose to 4.7% from 4.5% in the year-earlier period.
Total revenue fell 10.1% on an annual basis to 925.5 million rupees from 1.03 billion rupees, and total operating expenses decreased 9.6% on an annual basis to 847.3 million rupees from 936.8 million rupees.
Reported net income declined 21.6% on an annual basis to 57.2 million rupees, or 5.55 rupees per share, from 72.9 million rupees, or 7.09 rupees per share.
As of March 3, US$1 was equivalent to 101.89 Pakistani rupees.
