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Leiner Pak Gelatine fiscal Q3 profit falls YOY

Leiner Pak Gelatine Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 15 Pakistani paisa per share, a decrease of 62.4% from 41 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million rupees, a decrease of 62.4% from 3.1 million rupees in the prior-year period.

The normalized profit margin dropped to 0.4% from 1.6% in the year-earlier period.

Total revenue rose 35.2% on an annual basis to 264.9 million rupees from 196.0 million rupees, and total operating expenses increased 39.6% from the prior-year period to 260.9 million rupees from 187.0 million rupees.

Reported net income fell 59.7% from the prior-year period to 1.3 million rupees, or 17 paisa per share, from 3.2 million rupees, or 43 paisa per share.

As of April 29, US$1 was equivalent to 101.72 Pakistani rupees.