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National Foods fiscal Q3 profit climbs 13.9% YOY

National Foods Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1.46 Pakistani rupees per share, an increase of 14.0% from 1.28 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 151.5 million rupees, an increase of 13.9% from 133.1 million rupees in the year-earlier period.

The normalized profit margin fell to 6.0% from 6.2% in the year-earlier period.

Total revenue grew 17.2% year over year to 2.51 billion rupees from 2.14 billion rupees, and total operating expenses grew 18.4% on an annual basis to 2.25 billion rupees from 1.90 billion rupees.

Reported net income rose 24.5% on an annual basis to 173.4 million rupees, or 1.67 rupees per share, from 139.3 million rupees, or 1.34 rupees per share.

As of April 27, US$1 was equivalent to 101.84 Pakistani rupees.