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Chakwal Spinning Mills swings to loss in fiscal Q1

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Ep.1: Broadcast's Big Year


Global M&A by the Numbers Q4 2023

Chakwal Spinning Mills swings to loss in fiscal Q1

Chakwal Spinning Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30, 2015, amounted to a loss of 56 Pakistani paisa per share, compared with 62 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 22.2 million rupees, compared with income of 24.8 million rupees in the prior-year period.

The normalized profit margin declined to negative 5.4% from 3.5% in the year-earlier period.

Total revenue declined 42.0% on an annual basis to 410.6 million rupees from 708.2 million rupees, and total operating expenses decreased 33.5% year over year to 437.5 million rupees from 657.8 million rupees.

Reported net income came to a loss of 39.2 million rupees, or a loss of 98 paisa per share, compared to income of 32.6 million rupees, or 81 paisa per share, in the year-earlier period.

As of Jan. 19, US$1 was equivalent to 104.92 Pakistani rupees.