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Blessed Textiles fiscal Q3 profit climbs 24.8% YOY

Blessed Textiles Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 3.83 Pakistani rupees per share, an increase of 24.5% from 3.07 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 24.6 million rupees, a gain of 24.8% from 19.7 million rupees in the year-earlier period.

The normalized profit margin rose to 1.4% from 1.1% in the year-earlier period.

Total revenue declined on an annual basis to 1.80 billion rupees from 1.85 billion rupees, and total operating expenses decreased from the prior-year period to 1.70 billion rupees from 1.74 billion rupees.

Reported net income increased 65.2% year over year to 21.4 million rupees, or 3.33 rupees per share, from 13.0 million rupees, or 2.02 rupees per share.

As of June 17, US$1 was equivalent to 104.66 Pakistani rupees.