Ibrahim Fibres Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 65 Pakistani paisa per share, a decline of 38.5% from 1.06 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 202.9 million rupees, a decline of 38.6% from 330.5 million rupees in the year-earlier period.
The normalized profit margin dropped to 2.2% from 2.6% in the year-earlier period.
Total revenue decreased 26.2% year over year to 9.24 billion rupees from 12.53 billion rupees, and total operating expenses declined 22.5% year over year to 9.30 billion rupees from 12.01 billion rupees.
Reported net income decreased 10.5% from the prior-year period to 298.2 million rupees, or 96 paisa per share, from 333.1 million rupees, or 1.07 rupees per share.
As of Feb. 26, US$1 was equivalent to 101.85 Pakistani rupees.
