Nagina Cotton Mills Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 2.60 Pakistani rupees per share, a decrease of 14.4% from 3.04 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 48.6 million rupees, a decrease of 14.5% from 56.9 million rupees in the year-earlier period.
The normalized profit margin dropped to 4.0% from 4.9% in the year-earlier period.
Total revenue increased year over year to 1.22 billion rupees from 1.16 billion rupees, and total operating expenses increased 7.3% year over year to 1.12 billion rupees from 1.04 billion rupees.
Reported net income declined 30.2% on an annual basis to 65.2 million rupees, or 3.49 rupees per share, from 93.5 million rupees, or 5.00 rupees per share.
As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.
