Mahmood Textile Mills Ltd said its normalized net income for the fiscal third quarter ended March 31 was 2.71 Pakistani rupees per share, a decrease of 45.7% from 4.99 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 40.6 million rupees, a decrease of 45.7% from 74.8 million rupees in the prior-year period.
The normalized profit margin declined to 1.2% from 1.8% in the year-earlier period.
Total revenue decreased 17.2% on an annual basis to 3.38 billion rupees from 4.09 billion rupees, and total operating expenses decreased 16.1% from the prior-year period to 3.17 billion rupees from 3.78 billion rupees.
Reported net income declined 73.2% on an annual basis to 28.0 million rupees, or 1.87 rupees per share, from 104.7 million rupees, or 6.98 rupees per share.
As of April 29, US$1 was equivalent to 101.72 Pakistani rupees.
