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Al Shaheer profit misses consensus by 38.9% in fiscal Q2

Al Shaheer Corp. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 43 Pakistani paisa per share, compared with the S&P Capital IQ consensus estimate of 70 paisa per share.

EPS rose 5.4% year over year from 40 paisa.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 58.8 million rupees, an increase of 69.9% from 34.6 million rupees in the prior-year period.

The normalized profit margin rose to 3.5% from 3.1% in the year-earlier period.

Total revenue grew 45.9% year over year to 1.64 billion rupees from 1.12 billion rupees, and total operating expenses increased 46.8% year over year to 1.54 billion rupees from 1.05 billion rupees.

Reported net income rose 50.1% on an annual basis to 98.5 million rupees, or 71 paisa per share, from 65.6 million rupees, or 76 paisa per share.

As of March 4, US$1 was equivalent to 104.73 Pakistani rupees.