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Atlas Battery fiscal Q1 profit climbs YOY

Atlas Battery Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 15.22 Pakistani rupees per share, an increase from 7.53 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 264.8 million rupees, a gain from 131.1 million rupees in the prior-year period.

The normalized profit margin climbed to 5.6% from 3.9% in the year-earlier period.

Total revenue grew 15.7% on an annual basis to 3.88 billion rupees from 3.35 billion rupees, and total operating expenses increased 10.9% on an annual basis to 3.44 billion rupees from 3.10 billion rupees.

Reported net income rose 60.2% year over year to 251.7 million rupees, or 14.47 rupees per share, from 157.1 million rupees, or 9.03 rupees per share.

As of Oct. 30, US$1 was equivalent to 105.51 Pakistani rupees.