Fazal Cloth Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 6.20 Pakistani rupees per share, a decrease of 6.7% from 6.65 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 185.8 million rupees, a decline of 6.8% from 199.2 million rupees in the prior-year period.
The normalized profit margin declined to 2.7% from 3.6% in the year-earlier period.
Total revenue grew 26.3% year over year to 6.95 billion rupees from 5.50 billion rupees, and total operating expenses climbed 29.2% year over year to 6.29 billion rupees from 4.86 billion rupees.
Reported net income declined 63.2% year over year to 79.7 million rupees, or 2.66 rupees per share, from 216.9 million rupees, or 7.23 rupees per share.
As of Feb. 26, US$1 was equivalent to 101.85 Pakistani rupees.
