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Atlas Battery fiscal Q4 profit climbs 29.8% YOY

Atlas Battery Ltd said its normalized net income for the fiscal fourth quarter ended June 30 amounted to 22.97 Pakistani rupees per share, a gain of 29.8% from 17.69 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 399.6 million rupees, an increase of 29.8% from 307.9 million rupees in the year-earlier period.

The normalized profit margin climbed to 11.1% from 6.7% in the year-earlier period.

Total revenue decreased 21.5% year over year to 3.61 billion rupees from 4.60 billion rupees, and total operating expenses fell 26.3% on an annual basis to 3.00 billion rupees from 4.07 billion rupees.

Reported net income increased 14.2% year over year to 427.6 million rupees, or 24.58 rupees per share, from 374.3 million rupees, or 21.51 rupees per share.

For the year, the company's normalized net income totaled 66.50 rupees per share, an increase of 32.0% from 50.37 rupees per share in the prior year.

Normalized net income was 1.16 billion rupees, a gain of 32.0% from 876.5 million rupees in the prior year.

Full-year total revenue declined 12.2% on an annual basis to 14.02 billion rupees from 15.96 billion rupees, and total operating expenses fell 15.6% on an annual basis to 12.13 billion rupees from 14.38 billion rupees.

The company said reported net income grew 25.3% year over year to 1.27 billion rupees, or 73.04 rupees per share, in the full year, from 1.01 billion rupees, or 58.27 rupees per share.

As of Sept. 6, US$1 was equivalent to 104.55 Pakistani rupees.