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Olympia Mills fiscal Q1 loss narrows YOY

Olympia Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 1.84 Pakistani rupees per share, compared with a loss of 2.66 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 a loss of 22.1 million rupees, compared with a loss of 31.8 million rupees in the prior-year period.

Reported net income totaled a loss of 35.3 million rupees, or a loss of 2.94 rupees per share, compared to a loss of 50.9 million rupees, or a loss of 4.25 rupees per share, in the year-earlier period.

As of Nov. 4, US$1 was equivalent to 105.42 Pakistani rupees.