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Shezan International fiscal Q1 profit climbs YOY

Shezan International Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 11.57 Pakistani rupees per share, an increase from 11.16 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 92.4 million rupees, a gain from 89.2 million rupees in the prior-year period.

The normalized profit margin fell to 4.8% from 5.1% in the year-earlier period.

Total revenue increased 9.5% year over year to 1.91 billion rupees from 1.74 billion rupees, and total operating expenses climbed 9.8% year over year to 1.75 billion rupees from 1.59 billion rupees.

Reported net income grew year over year to 94.9 million rupees, or 11.88 rupees per share, from 92.7 million rupees, or 11.60 rupees per share.

As of Oct. 28, US$1 was equivalent to 103.05 Pakistani rupees.